BlackRock Announces Certified Results of 2024 Annual Meetings of Ten Contested Closed-End Funds
24 July 2024 - 6:30AM
Business Wire
BlackRock Advisors, LLC (“BlackRock”) announced today the final
certified voting results of the 2024 Annual Meetings of
Shareholders (the “Annual Meetings”) of the ten closed-end funds
contested by Saba Capital Management, L.P. (“Saba”):
- BlackRock Capital Allocation Term Trust (NYSE: BCAT)
- BlackRock California Municipal Income Trust (NYSE: BFZ)
- BlackRock Innovation and Growth Term Trust (NYSE: BIGZ)
- BlackRock Health Sciences Term Trust (NYSE: BMEZ)
- BlackRock New York Municipal Income Trust (NYSE: BNY)
- BlackRock Science and Technology Term Trust (NYSE: BSTZ)
- BlackRock ESG Capital Allocation Term Trust (NYSE: ECAT)
- BlackRock MuniHoldings New York Quality Fund, Inc. (NYSE:
MHN)
- BlackRock MuniYield Pennsylvania Quality Fund (NYSE: MPA)
- BlackRock MuniYield New York Quality Fund, Inc. (NYSE:
MYN)
The certified final results of the Annual Meetings confirm that
the Boards’ nominees at all ten funds will remain in place, and
that BlackRock will continue as investment adviser at all six funds
where Saba had put forth a termination proposal.
The previously adjourned meetings for BNY and BSTZ reached
quorum and were held on July 16, 2024, and the results have been
certified as final. At BNY, the incumbent Board members were
reelected over Saba’s nominees. At BSTZ, BlackRock will continue as
investment adviser, and the incumbent Board members will remain in
place.
At MPA, shareholders reelected the full incumbent Board over
Saba’s nominees. At BFZ, the Board’s nominees were reelected, and
Saba's termination proposal did not pass.
The final voting results have been certified by First Coast
Results, Inc., the independent Inspector of Election, and will be
included in the funds’ next annual or semi-annual report to
shareholders, as applicable.
About BlackRock
BlackRock’s purpose is to help more and more people experience
financial well-being. As a fiduciary to investors and a leading
provider of financial technology, we help millions of people build
savings that serve them throughout their lives by making investing
easier and more affordable. For additional information on
BlackRock, please visit www.blackrock.com/corporate.
Availability of Fund Updates
BlackRock will update performance and certain other data for the
funds on a monthly basis on their website in the “Closed-end Funds”
section of www.blackrock.com, as well as certain other material
information as necessary from time to time. Investors and others
are advised to check the website for updated performance
information and the release of other material information about the
funds. This reference to BlackRock’s website is intended to allow
investors public access to information regarding the funds and does
not, and is not intended to, incorporate BlackRock’s website in
this release.
Forward-Looking Statements
This press release, and other statements that BlackRock or the
funds may make, may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act, with
respect to the funds’ or BlackRock’s future financial or business
performance, strategies or expectations. Forward-looking statements
are typically identified by words or phrases such as “trend,”
“potential,” “opportunity,” “pipeline,” “believe,” “comfortable,”
“expect,” “anticipate,” “current,” “intention,” “estimate,”
“position,” “assume,” “outlook,” “continue,” “remain,” “maintain,”
“sustain,” “seek,” “achieve,” and similar expressions, or future or
conditional verbs such as “will,” “would,” “should,” “could,” “may”
or similar expressions.
BlackRock cautions that forward-looking statements are subject
to numerous assumptions, risks and uncertainties, which change over
time. Forward-looking statements speak only as of the date they are
made, and BlackRock assumes no duty to and does not undertake to
update forward-looking statements. Actual results could differ
materially from those anticipated in forward-looking statements and
future results could differ materially from historical
performance.
With respect to the funds, the following factors, among others,
could cause actual events to differ materially from forward-looking
statements or historical performance: (1) changes and volatility in
political, economic or industry conditions, the interest rate
environment, foreign exchange rates or financial and capital
markets, which could result in changes in demand for the funds or
in the funds’ net asset value; (2) the relative and absolute
investment performance of the funds and their investments; (3) the
impact of increased competition; (4) the unfavorable resolution of
any legal proceedings; (5) the extent and timing of any
distributions or share repurchases; (6) the impact, extent and
timing of technological changes; (7) the impact of legislative and
regulatory actions and reforms, and regulatory, supervisory or
enforcement actions of government agencies relating to the funds or
BlackRock, as applicable; (8) terrorist activities, international
hostilities, health epidemics and/or pandemics and natural
disasters, which may adversely affect the general economy, domestic
and local financial and capital markets, specific industries or
BlackRock; (9) BlackRock’s ability to attract and retain highly
talented professionals; (10) the impact of BlackRock electing to
provide support to its products from time to time; and (11) the
impact of problems at other financial institutions or the failure
or negative performance of products at other financial
institutions.
Annual and Semi-Annual Reports and other regulatory filings of
the funds with the Securities and Exchange Commission (“SEC”) are
accessible on the SEC's website at www.sec.gov and on
BlackRock’s website at www.blackrock.com, and may discuss
these or other factors that affect the funds. The information
contained on BlackRock’s website is not a part of this press
release.
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Office: +1 (646) 310-0852 GroupCorpCommsAMRS@blackrock.com