BlackRock Enhanced Capital and Income Fund, Inc. announces an Equity Buyback for 5% of its issued share capital.
September 05, 2019 at 12:00 am EDT
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BlackRock Enhanced Capital and Income Fund, Inc. (NYSE:CII) announces a share repurchase program. Under the program, the company will repurchase up to 5% of its issued share capital. The repurchases will commence on December 1, 2019, and will expire on November 30, 2020.
BlackRock Enhanced Capital and Income Fund, Inc. (the Trust) is a closed-end management investment company. The Trust's investment objective is to provide current income and capital appreciation. It seeks to achieve its investment objective by investing in a portfolio of equity securities of the United States and foreign issuers. The Trust may invest directly in such securities or synthetically through the use of derivatives. The Trust also seeks to achieve its investment objective by employing a strategy of writing (selling) call and put options. In addition to its option strategy on indices, the Trust may pursue a strategy that includes the writing (selling) of both call and put options on individual common stocks. The Trust invests in various sectors, including Information technology, consumer discretionary, communication services, financials, health care, industrials, materials, energy, consumer staples, and real estate. Investment adviser of the Trust is BlackRock Advisors, LLC.