BlackRock Enhanced Government Fund, Inc. announces an Equity Buyback for 5% of its issued share capital.
October 06, 2023 at 09:30 am IST
Share
BlackRock Enhanced Government Fund, Inc. (NYSE:EGF) announces a share repurchase program. Under the program, the company will repurchase up to 5% of its outstanding common shares. The shares will be repurchased at an amount per share equal to the Fund's net asset value per Share, less a repurchase fee of 2% of the value of the shares repurchased, calculated as of the close of regular trading on the New York Stock Exchange on November 15, 2023. The Fund has established a record date of September 29, 2023. The repurchases will commence from October 13, 2023, and be valid till November 14, 2023, unless otherwise extended.
Computershare Trust Company, N.A., acted as depositary agent to the company.
BlackRock Enhanced Government Fund, Inc. (the Fund) is a diversified, closed-end management investment company. The Fundâs investment objective is to provide stockholders with current income and gains. Under normal market conditions, the Fund will invest at least 80% of the value of its net assets, including assets acquired with the proceeds from the sale of any preferred stock, plus the amount of any outstanding debt securities or borrowings for investment purposes, in United States Government securities and United States Government Agency securities, including United States Government mortgage-backed securities. The Fund may also invest up to 20% of its net assets in non-United States Government debt securities of foreign or domestic issuers, including commercial paper, notes, corporate bonds, debentures, asset-backed securities, mortgage-backed securities, corporate loans, sovereign debt securities and money market securities. Its investment advisor is BlackRock Advisors, LLC.
BLACKROCK ENHANCED GOVERNMENT FUND, INC. 
