Welcome to our dedicated page for BlackRock 2037 Municipal Target Term news (Ticker: BMN), a resource for investors and traders seeking the latest updates and insights on BlackRock 2037 Municipal Target Term stock.
BlackRock 2037 Municipal Target Term Trust (BMN) is a non-diversified, closed-end management investment company with stated objectives that include providing current income exempt from regular federal income tax and returning $25.00 per common share to holders of common shares on or about September 30, 2037. The news flow around BMN reflects developments related to these objectives and to the Fund’s capital structure.
One example is BlackRock’s announcement that the Fund successfully priced and placed Variable Rate Demand Preferred Shares (VRDP) in an offering exempt from registration under the Securities Act of 1933. According to BlackRock, the proceeds from the VRDP issuance are intended to increase leverage in the Fund, and BlackRock believes this will be accretive to the Fund’s earnings in a way that is consistent with the Fund’s investment objectives. News items of this type highlight how the Fund’s adviser adjusts the Fund’s financing and leverage.
Visitors to this BMN news page can review announcements and press releases that describe actions affecting the Fund’s structure, leverage, and alignment with its stated objectives. Coverage may include updates on preferred share offerings, references to the Fund’s investment focus on income exempt from regular federal income tax, and information about how these steps relate to the Fund’s target term and return-of-capital objective.
For investors and researchers following BMN, this news page serves as a central location to read official communications and other public updates concerning the Fund. By reviewing these items over time, readers can see how the Fund’s adviser describes changes in leverage, financing tools such as VRDP, and other factors that are presented as relevant to the Fund’s objectives.
BlackRock 2037 Municipal Target Term Trust (NYSE: BMN) has successfully completed a $50 million Variable Rate Demand Preferred Shares (VRDP) offering. The VRDP issuance, exempt from Securities Act of 1933 registration, will be used to increase the Fund's leverage.
BlackRock expects this issuance to enhance the Fund's earnings while maintaining its core objectives: providing tax-exempt current income and targeting to return $25.00 per common share by September 30, 2037. The income may be subject to federal alternative minimum tax in certain circumstances.
The Board of Trustees of BlackRock 2037 Municipal Target Term Trust (NYSE: BMN) has announced its initial monthly distribution of $0.093750 per share, set to be paid on February 1, 2023. The ex-date is January 12, 2023, and the record date is January 13, 2023. This distribution corresponds to a yield of 4.50% based on the Trust's IPO price of $25.00 per share. Investors can find updates on performance and other material data on BlackRock's official website, reaffirming the Trust's focus on delivering financial well-being to its stakeholders.
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