Welcome to our dedicated page for BlackRock Enhanced Gov Fund news (Ticker: EGF), a resource for investors and traders seeking the latest updates and insights on BlackRock Enhanced Gov Fund stock.
The EGF news page on Stock Titan focuses on BlackRock Enhanced Government Fund, Inc. (NYSE: EGF) and its reorganization with BlackRock Income Trust, Inc. (NYSE: BKT). BlackRock has announced that the Boards of Directors of both funds approved a reorganization in which EGF was combined with and into BKT, and later confirmed that this reorganization was completed as of the opening of business of the New York Stock Exchange on March 24, 2025.
News items for EGF center on this corporate action, including Board approval of the closed-end fund reorganization and the subsequent closing of the transaction. Coverage explains how the reorganization was structured, the requirement for EGF shareholder approval, and the fact that BKT continued as the surviving fund without requiring approval from BKT shareholders.
Another key element of EGF-related news is the share conversion mechanics. BlackRock reported that each EGF shareholder received BKT common shares based on the aggregate net asset value of their EGF holdings as of March 21, 2025, using a specific share conversion ratio. Articles also describe that no fractional BKT shares were issued and that cash was paid in lieu of any fractional shares, as well as noting that the EGF distribution scheduled for March 31, 2025 would be paid in cash.
This page serves as a historical archive of press releases and announcements related to EGF’s transition into BKT. Investors can use it to review how the reorganization was communicated, the timeline of Board approval through completion, and references to regulatory documents such as the Proxy Statement/Prospectus filed with the SEC.
BlackRock Enhanced Government Fund, Inc. (NYSE: EGF) announced the expiration of its annual repurchase offer for common stock shares, expiring on November 16, 2022. The Fund aimed to repurchase up to 5% of its outstanding shares at the net asset value determined on November 17, 2022. With 4,142,327 shares outstanding, the repurchase would represent about 207,116 shares. Approximately 68% of shares tendered were accepted, with a pro rata approach for excess tenders. The Fund's goal is to provide current income and gains for stockholders.
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BlackRock Enhanced Government Fund (NYSE: EGF) has announced the expiration of its annual repurchase offer, which concluded on November 16, 2021, at 5:00 p.m. Eastern Time. The Fund aimed to repurchase up to 5% of its outstanding shares, equivalent to approximately 213,101 shares. However, only 119,707 shares, or about 2.8% of the total, were validly tendered. Shares accepted will not receive dividends for records dated after November 24, 2021. The Fund's investment objective focuses on providing stockholders with current income and gains.
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BlackRock Enhanced Government Fund (NYSE: EGF) has completed its annual repurchase offer, allowing shareholders to tender up to 10% of its outstanding shares. The offer expired on November 18, 2020, with 1,202,530 shares (25% of outstanding shares) validly tendered. Since this exceeds the offer, shares will be repurchased pro rata, except for shareholders with 99 or fewer shares who will have their full tender accepted. The repurchase will be at the net asset value as of November 19, 2020, minus a 2% fee.
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