“`html
BlackRock closed-end funds BMEZ, BSTZ, BTX announced distribution plan updates effective with the October 2025 distribution cycle (declaration 9/10/2025; ex-date and record 10/15/2025; payable 10/31/2025). Each fund moves from a floating rate to a level monthly distribution at stated per-share amounts: BMEZ $0.11000, BSTZ $0.16250, BTX $0.05250.
Estimated allocation data as of 8/29/2025 show large portions of recent distributions characterized as return of capital (BMEZ and BTX ~100% ROC for the reported periods; BSTZ shows long-term gains). Reported annualized distribution rates (as of 7/31/2025) are BMEZ 13.04%, BSTZ 11.37%, BTX 12.32%. Boards may amend or suspend plans and distributions affect NAV.
BlackRock closed-end funds BMEZ, BSTZ, BTX announced distribution plan updates effective with the October 2025 distribution cycle (declaration 9/10/2025; ex-date and record 10/15/2025; payable 10/31/2025). Each fund moves from a floating rate to a level monthly distribution at stated per-share amounts: BMEZ $0.11000, BSTZ $0.16250, BTX $0.05250.
Estimated allocation data as of 8/29/2025 show large portions of recent distributions characterized as return of capital (BMEZ and BTX ~100% ROC for the reported periods; BSTZ shows long-term gains). Reported annualized distribution rates (as of 7/31/2025) are BMEZ 13.04%, BSTZ 11.37%, BTX 12.32%. Boards may amend or suspend plans and distributions affect NAV.
Los fondos cerrados de BlackRock BMEZ, BSTZ y BTX announced distribution plan updates effective with the October 2025 distribution cycle (declaration 9/10/2025; ex-date and record 10/15/2025; payable 10/31/2025). Each fund moves from a floating rate to a level monthly distribution at stated per-share amounts: BMEZ $0.11000, BSTZ $0.16250, BTX $0.05250.
Estimated allocation data as of 8/29/2025 show large portions of recent distributions characterized as return of capital (BMEZ and BTX ~100% ROC for the reported periods; BSTZ shows long-term gains). Reported annualized distribution rates (as of 7/31/2025) are BMEZ 13.04%, BSTZ 11.37%, BTX 12.32%. Boards may amend or suspend plans and distributions affect NAV.
BlackRock closed-end funds BMEZ, BSTZ, BTX announced distribution plan updates effective with the October 2025 distribution cycle (declaration 9/10/2025; ex-date and record 10/15/2025; payable 10/31/2025). Each fund moves from a floating rate to a level monthly distribution at stated per-share amounts: BMEZ $0.11000, BSTZ $0.16250, BTX $0.05250.
Estimated allocation data as of 8/29/2025 show large portions of recent distributions characterized as return of capital (BMEZ and BTX ~100% ROC for the reported periods; BSTZ shows long-term gains). Reported annualized distribution rates (as of 7/31/2025) are BMEZ 13.04%, BSTZ 11.37%, BTX 12.32%. Boards may amend or suspend plans and distributions affect NAV.
BlackRock closed-end funds BMEZ, BSTZ, BTX announced distribution plan updates effective with the October 2025 distribution cycle (declaration 9/10/2025; ex-date and record 10/15/2025; payable 10/31/2025). Each fund moves from a floating rate to a level monthly distribution at stated per-share amounts: BMEZ $0.11000, BSTZ $0.16250, BTX $0.05250.
Estimated allocation data as of 8/29/2025 show large portions of recent distributions characterized as return of capital (BMEZ and BTX ~100% ROC for the reported periods; BSTZ shows long-term gains). Reported annualized distribution rates (as of 7/31/2025) are BMEZ 13.04%, BSTZ 11.37%, BTX 12.32%. Boards may amend or suspend plans and distributions affect NAV.
BlackRock closed-end funds BMEZ, BSTZ, BTX announced distribution plan updates effective with the October 2025 distribution cycle (declaration 9/10/2025; ex-date and record 10/15/2025; payable 10/31/2025). Each fund moves from a floating rate to a level monthly distribution at stated per-share amounts: BMEZ $0.11000, BSTZ $0.16250, BTX $0.05250.
Estimated allocation data as of 8/29/2025 show large portions of recent distributions characterized as return of capital (BMEZ and BTX ~100% ROC for the reported periods; BSTZ shows long-term gains). Reported annualized distribution rates (as of 7/31/2025) are BMEZ 13.04%, BSTZ 11.37%, BTX 12.32%. Boards may amend or suspend plans and distributions affect NAV.
BlackRock closed-end funds BMEZ, BSTZ, BTX announced distribution plan updates effective with the October 2025 distribution cycle (declaration 9/10/2025; ex-date and record 10/15/2025; payable 10/31/2025). Each fund moves from a floating rate to a level monthly distribution at stated per-share amounts: BMEZ $0.11000, BSTZ $0.16250, BTX $0.05250.
Estimated allocation data as of 8/29/2025 show large portions of recent distributions characterized as return of capital (BMEZ and BTX ~100% ROC for the reported periods; BSTZ shows long-term gains). Reported annualized distribution rates (as of 7/31/2025) are BMEZ 13.04%, BSTZ 11.37%, BTX 12.32%. Boards may amend or suspend plans and distributions affect NAV.
Positive
- Level monthly distributions effective Oct 2025
- Stated per-share rates: BMEZ $0.11000, BSTZ $0.16250, BTX $0.05250
- High annualized distribution rates: BMEZ 13.04%, BSTZ 11.37%, BTX 12.32%
Negative
- Estimated distributions for BMEZ and BTX were 100% return of capital as of 8/29/2025
- Each fund cut per-share monthly payouts versus prior amounts (e.g., BMEZ -$0.05291)
- BTX five-year NAV total return is -11.19% (to 7/31/2025)
Insights
Board set fixed monthly distributions, many paid as return of capital; NAV impact and tax characterization are key near-term issues.
The Funds moved from floating to level monthly distributions effective with the 10/15/2025 ex-date and payable 10/31/2025, with stated per-share monthly amounts of $0.11000 for BMEZ, $0.16250 for BSTZ, and $0.05250 for BTX. The announcement discloses estimated distribution source allocations through 08/29/2025 and for the fiscal year through 08/29/2025: BMEZ and BTX show 100% as return of capital in the latest estimates, while BSTZ shows 100% as long-term gains for the described periods. These are explicit, regulator-filed estimates rather than tax reporting figures.
The main dependencies and risks follow directly from those facts. A high proportion of distributions classified as return of capital reduces the Funds’ net asset value when distributions exceed total return; the press text explicitly notes that such distributions “will reduce the Fund’s net asset value per share.” The Board retains discretion to change or suspend the Plans, and final tax characterizations will be set after the fiscal year end; therefore tax treatment and NAV effects remain subject to later reclassification. Watch for the Form 1099-DIV after year-end and any Board amendments before year-end.
Concrete near-term items to monitor: the actual tax characterization in the calendar-year Form 1099-DIV (expected after the fiscal year), any Board updates to the Plan, and NAV movement in the weeks following the levelization (observable immediately and through the remainder of 2025). Given the disclosed per-share amounts and the 100% return-of-capital estimates for some Funds, these developments are materially relevant to shareholders’ after-tax outcomes and NAV and merit close attention over the next one to three months.
11/06/2025 – 10:01 AM
NEW YORK–(BUSINESS WIRE)–The Board of Trustees (the “Board”) of BlackRock Health Sciences Term Trust (BMEZ), BlackRock Science and Technology Term Trust (BSTZ), and BlackRock Technology and Private Equity Term Trust (BTX) (the “Funds”) approved updates to each Fund’s managed distribution plan that will take effect with the October 2025 distribution. The Funds will change from a floating rate distribution to a level rate distribution at the stated monthly rates provided below. These changes seek to enhance distribution stability while maintaining a competitive distribution rate and offering the potential to grow each Fund’s net asset value.
Equity Funds:
Declaration- 9/10/2025 Ex-Date- 10/15/2025 Record- 10/15/2025 Payable- 10/31/2025
* In order to comply with the requirements of Section 19 of the Investment Company Act of 1940, as amended (the “1940 Act”), each of the Funds noted above posted to the DTC bulletin board and sent to its shareholders of record as of the applicable record date a Section 19 notice with the previous distribution payment. The Section 19 notice was provided for informational purposes only and not for tax reporting purposes. This information can be found in the “Closed-End Funds” section of www.blackrock.com. As applicable, the final determination of the source and tax characteristics of all distributions in 2025 will be made after the end of the year.
The fixed amounts distributed per share or distribution rate, as applicable, are subject to change at the discretion of each Fund’s Board of Directors/Trustees. Under its Plan, each Fund will distribute all available investment income to its shareholders, consistent with its investment objectives and as required by the Internal Revenue Code of 1986, as amended (the “Code”). If sufficient income (inclusive of net investment income and short-term capital gains) is not available on a monthly basis, a Fund will distribute long-term capital gains and/or return capital to its shareholders in order to maintain a level distribution.
Each Fund’s estimated sources of the distributions paid as of August 29, 2025 and for its current fiscal year are as follows:
|
Estimated Allocations as of August 29, 2025 |
|||||
|
Fund |
Distribution |
Net Income |
Net Realized Short-Term Gains |
Net Realized Long-Term Gains |
|
|
BMEZ1 |
$0.164960 |
$0 (0%) |
$0 (0%) |
$0 (0%) |
$0.164960 (100%) |
|
BSTZ |
$0.216470 |
$0 (0%) |
$0 (0%) |
$0.216470 (100%) |
$0 (0%) |
|
BTX1 |
$0.078840 |
$0 (0%) |
$0 (0%) |
$0 (0%) |
$0.078840 (100%) |
|
Estimated Allocations for the Fiscal Year through August 29, 2025 |
|||||
|
Fund |
Distribution |
Net Income |
Net Realized Short-Term Gains |
Net Realized Long-Term Gains |
Return of Capital |
|
BMEZ1 |
$1.378150 |
$0 (0%) |
$0 (0%) |
$0 (0%) |
$1.378150 (100%) |
|
BSTZ |
$1.756800 |
$0 (0%) |
$0 (0%) |
$1.756800 (100%) |
$0 (0%) |
|
BTX1 |
$0.665550 |
$0 (0%) |
$0 (0%) |
$0 (0%) |
$0.665550 (100%) |
1The Fund estimates that it has distributed more than its income and net-realized capital gains in the current fiscal year; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the shareholder’s investment is paid back to the shareholder. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with ‘yield’ or ‘income’. When distributions exceed total return performance, the difference will reduce the Fund’s net asset value per share.
The amounts and sources of distributions reported are only estimates and are being provided to you pursuant to regulatory requirements and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon each Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.
|
Fund Performance and Distribution Rate Information: |
||||
|
Fund |
Average annual total return (in relation to NAV) for the 5-year period ending on 07/31/2025 |
Annualized current distribution rate expressed as a percentage of NAV as of 07/31/2025 |
Cumulative total return (in relation to NAV) for the fiscal year through 07/31/2025 |
Cumulative fiscal year distributions as a percentage of NAV as of 07/31/2025 |
|
BMEZ |
(0.18%) |
13.04% |
0.14% |
7.99% |
|
BSTZ |
5.85% |
11.37% |
<p class="bwcellpmargin bwalignc
Original article, Author: Jam. If you wish to reprint this article, please indicate the source:https://aicnbc.com/12397.html Like (0)
About Author
Duolingo (DUOL) Q3 2025 Earnings Preview
Previous
1 hour ago
AI bubble? Thriving Through a Correction
Next
1 hour ago
Related News | |
