Neonode Reports Quarter Ended September 30, 2025 Financial Results
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 anunciaron actualizaciones de su plan de distribución que entrarán en vigencia con el ciclo de distribución de octubre de 2025 (anuncio 9/10/2025; fecha ex‑dividendo y registro 15/10/2025; pagadero 31/10/2025). Cada fondo pasa de una tasa flotante a una distribución mensual fija con importes por acción indicados: BMEZ 0,11000 USD, BSTZ 0,16250 USD, BTX 0,05250 USD.
Los datos estimados de asignación al 29/08/2025 muestran que grandes porciones de las distribuciones recientes se caracterizan como reembolso de capital (BMEZ y BTX ~100% ROC para los periodos reportados; BSTZ muestra ganancias a largo plazo). Las tasas de distribución anuales reportadas (al 31/07/2025) son BMEZ 13,04%, BSTZ 11,37%, BTX 12,32%. Las juntas pueden enmendar o suspender planes y las distribuciones afectan al NAV.
BlackRock의 폐쇄형 펀드 BMEZ, BSTZ, BTX는 2025년 10월 배당 주기부터 적용되는 배당 계획 업데이트를 발표했습니다(선언 2025-09-10; 소거일 및 기준일 2025-10-15; 지급 2025-10-31). 각 펀드는 변동 금리에서 수준의 월별 배당으로 전환되며 주당 금액은 다음과 같습니다: BMEZ 0.11000달러, BSTZ 0.16250달러, BTX 0.05250달러.
2025년 8월 29일 기준 예상 배분 데이터는 최근 배당의 상당 부분이 자본 반환으로 특징지어짐(BMEZ와 BTX의 보고 기간에 대해 약 100% ROC; BSTZ는 장기 이익)을 보여줍니다. 보고된 연간 배당률은 (2025년 7월 31일 기준) BMEZ 13.04%, BSTZ 11.37%, BTX 12.32%입니다. 이사회는 계획을 수정하거나 중단할 수 있으며 배당은 NAV에 영향을 미칩니다.
Les fonds BlackRock fermés BMEZ, BSTZ, BTX ont annoncé des mises à jour du plan de distribution effectives à partir du cycle de distribution octobre 2025 (déclaration 10/09/2025; ex‑date et record 15/10/2025; payable 31/10/2025). Chaque fonds passe d'un taux variable à une distribution mensuelle stable à des montants par action indiqués : BMEZ 0,11000 USD, BSTZ 0,16250 USD, BTX 0,05250 USD.
Les données d'allocation estimées au 29/08/2025 montrent que de grandes portions des distributions récentes sont caractérisées comme une remboursement de capitaux (BMEZ et BTX ~100% ROC pour les périodes reportées; BSTZ montre des gains à long terme). Les taux de distribution annualisés déclarés (au 31/07/2025) sont BMEZ 13,04%, BSTZ 11,37%, BTX 12,32%. Les conseils peuvent modifier ou suspendre les plans et les distributions affectent la NAV.
BlackRock Closed‑End-Fonds BMEZ, BSTZ, BTX kündigten Aktualisierungen des Ausschüttungsplans an, die mit dem Ausschüttungszyklus Oktober 2025 wirksam werden (Ankündigung 10.09.2025; Ex‑Datum und Stichtag 15.10.2025; Zahlungsbar 31.10.2025). Jedes Fonds wechselt von einem variablen Zinssatz zu einer stabilen monatlichen Ausschüttung zu angegebenen pro‑Aktien-Beträgen: BMEZ 0,11000 USD, BSTZ 0,16250 USD, BTX 0,05250 USD.
Geschätzte Allokationsdaten vom 29.08.2025 zeigen, dass große Teile der jüngsten Ausschüttungen als Rückerstattung des Kapitals charakterisiert sind (BMEZ und BTX ~100% ROC für die berichteten Perioden; BSTZ weist langfristige Gewinne aus). Die gemeldeten annualisierten Ausschüttungsraten (Stand 31.07.2025) sind BMEZ 13,04%, BSTZ 11,37%, BTX 12,32%. Vorstände können Pläne ändern oder aussetzen, und Ausschüttungen beeinflussen den NAV.
صناديق BlackRock المغلقة BMEZ و BSTZ و BTX أعلنت عن تحديثات لخطة التوزيع تصبح سارية بدءاً من دورة التوزيع أكتوبر 2025 (الإعلان 9/10/2025؛ تاريخ البدء والسجل 15/10/2025؛ الدفع 31/10/2025). ينتقل كل صندوق من معدل فائدة عائم إلى توزيع شهري ثابت بمبالغ محددة للسهم: BMEZ 0.11000 دولار، BSTZ 0.16250 دولار، BTX 0.05250 دولار.
البيانات التقديرية للتخصيص حتى 29/08/2025 تُظهر أن أجزاء كبيرة من التوزيعات الأخيرة مُوصَفَة بأنها إرجاع رأسمال (BMEZ و BTX ~100% ROC للفترات المبلغ عنها؛ BSTZ تُظهر أرباح طويلة الأجل). معدلات التوزيع السنوية المعلنة (حتى 31/07/2025) هي BMEZ 13.04%، BSTZ 11.37%، BTX 12.32%. يمكن للجان المدراء تعديل الخطط أو تعليقها، والتوزيعات تؤثر على NAV.
- 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%
- 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
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
Equity Funds:
Declaration- 9/10/2025 Ex-Date- 10/15/2025 Record- 10/15/2025 Payable- 10/31/2025
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* 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 |
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Net Realized Long-Term Gains |
Return of Capital |
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BTX1 |
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Estimated Allocations for the Fiscal Year through August 29, 2025 |
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Fund |
Distribution |
Net Income |
Net Realized Short-Term Gains |
Net Realized Long-Term Gains |
Return of Capital |
BMEZ1 |
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BSTZ |
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BTX1 |
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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: |
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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 |
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BSTZ |
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BTX* |
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* Portfolio launched within the past 5 years; the performance and distribution rate information presented for this Fund reflects data from inception to 7/31/2025.
Shareholders should not draw any conclusions about a Fund’s investment performance from the amount of the Fund’s current distributions or from the terms of the Fund’s Plan.
The amount distributed per share under a Plan is subject to change at the discretion of the applicable Fund’s Board. Each Plan will be subject to ongoing review by the Board to determine whether the Plan should be continued, modified or terminated. The Board may amend the terms of a Plan or suspend or terminate a Plan at any time without prior notice to the Fund’s shareholders if it deems such actions to be in the best interest of the Fund or its shareholders. The amendment or termination of a Plan could have an adverse effect on the market price of the Fund's shares.
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 Fund on a monthly basis on its 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 Fund. This reference to BlackRock’s website is intended to allow investors public access to information regarding the Fund 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 Fund may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to the Fund’s 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 Fund, 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 Fund or in the Fund’s net asset value; (2) the relative and absolute investment performance of the Fund and its 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 Fund 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 Fund 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 Fund. The information contained on BlackRock’s website is not a part of this press release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250910678068/en/
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Source: BlackRock Closed-End Funds
FAQ
What distribution change did BMEZ announce for October 2025 (ticker BMEZ)?
How much is BSTZ's new monthly distribution and when is it payable (ticker BSTZ)?
What portion of recent BTX distributions are estimated to be return of capital (ticker BTX)?
How do the funds' annualized distribution rates compare as of 7/31/2025?
Will the boards be able to change the distribution plans for BMEZ, BSTZ, BTX?
What tax reporting should shareholders expect for the 2025 distributions?
