BlackRock Announces Board Approval of Share Consolidation for BlackRock Income Trust, Inc. | Company


BlackRock Advisors, LLC today announced that the Board of Directors of BlackRock Income Trust, Inc. (NYSE: BKT) (the “Fund”) has approved a 1 for 3 reverse stock split of the common shares of the Fund.

The Fund expects to complete a 1-for-3 reverse stock split prior to the opening of trading on the New York Stock Exchange (the “NYSE”) on October 18, 2022 for common shareholders of record at the close of business on October 17. , 2022. Trading in the common shares of the Fund on an adjusted split basis is expected to begin at the opening of trading on the NYSE on October 18, 2022. The common shares of the Fund will continue to trade on the NYSE under its existing symbol ( NYSE:BKT), but will be assigned the new CUSIP number below.


Fund name

Former CUSIP



BlackRock Income Trust, Inc.



Following the share consolidation, three outstanding common shares of the Fund will be converted into one common share. A reverse stock split will reduce the number of common shares of the Fund outstanding and potentially increase the market price per common share by a proportional amount. While the number of outstanding common shares of the Fund will decrease, neither the holdings of the Fund’s portfolio nor the total value of shareholders’ investments in the Fund will be affected by the reverse stock split. After the Reverse Stock Split, the accounts of Common Shareholders will reflect proportionally fewer Common Shares with a higher Net Asset Value per Common Share and each Common Shareholder will own the same percentage of the outstanding Common Shares of the Fund that such Shareholder held immediately before. the reverse stock split, subject to adjustments for fractional shares resulting from the reverse stock split (see below).

The Fund adopted a managed distribution plan in August 2018. As part of the reverse stock split, the Fund’s fixed monthly distribution will be adjusted from $0.0294 per share to $0.0882 per share, effective the first distribution to be declared after the effective date of the reverse stock split. Such an adjustment to the fixed monthly distribution of the Fund will not result in any change to the monthly cash flows to shareholders or the net asset value distribution as a result of the reverse stock split.

The Board of Directors and BlackRock believe that increasing the market price per share of the common stock of the Fund through the reverse stock split may broaden the range of potential investors in the common stock of the Fund, thereby potentially enhancing the market and liquidity of the common shares of the Fund. This would have the effect of reducing the per share transaction costs associated with buying or selling common shares of the Fund in the secondary market.

No fractional shares will be issued following the reverse stock split. Fractional shares that may result from the stock consolidation will be consolidated and sold on the NYSE by the Fund’s transfer agent and the proceeds will be distributed on a pro rata basis among shareholders who would otherwise have received fractional shares on the consolidation. actions. The pro rata cash payment received by shareholders will be net of all customary fees and expenses in proportion to their attributable share of the total sales proceeds. Shareholders will receive further information regarding the stock consolidation from Computershare Trust Company, NA, the Fund’s transfer agent.

About Black Rock

BlackRock’s goal is to help more and more people experience financial wellness. As an investor trustee and a leading fintech provider, we help millions of people build savings that will serve them throughout their lives by making investing easier and more affordable. For more information about BlackRock, please visit | Twitter: @Black Rock | LinkedIn:

Availability of fund updates

BlackRock will update the performance and certain other data of the Fund on a monthly basis on its website in the “Close Ended Funds” section of, as well as certain other important information as necessary from time to time. Investors and others are encouraged to check the website for updated performance information and the release of other important information about the Fund. This reference to BlackRock’s website is intended to provide investors with public access to information about the Fund and does not incorporate and is not intended to incorporate BlackRock’s website in this release.

Forward-looking statements

This press release, and other statements BlackRock or the Fund may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, regarding the Fund’s future performance, strategies or financial or business expectations. or from BlackRock. Forward-looking statements are generally identified by words or phrases such as “trend”, “potential”, “opportunity”, “forecast”, “believe”, “comfortable”, “expect”, “anticipate”, ” current”, “intent”, “estimate”, “position”, “assume”, “outlook”, “continue”, “remain”, “maintain”, “support”, “seek”, “achieve” and similar expressions, or future tense or conditional verbs such as “will”, “would”, “should”, “could”, “can” 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 undertakes no obligation or undertaking to update any forward-looking statements. Actual results could differ materially from those anticipated in the 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 cause variations in demand for the Fund or in the net asset value of the Fund; (2) the relative and absolute investment performance of the Fund and its investments; (3) the impact of increased competition; (4) adverse resolution of any legal proceedings; (5) the extent and timing of stock distributions or redemptions; (6) the impact, extent and timing of technological changes; (7) the impact of legislative and regulatory actions and reforms, including the Dodd-Frank Wall Street Reform and Consumer Protection Act, 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, national 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’s election to provide support for its products from time to time; and (11) the impact of other financial institutions’ problems or the failure or negative performance of other financial institutions’ products.

The Fund’s annual and semi-annual reports and other regulatory filings with the Securities and Exchange Commission (“SEC”) are available on the SEC’s website at and on the BlackRock website at, and may discuss these or other factors affecting the Fund. Information contained on BlackRock’s website is not part of this press release.

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SOURCE: BlackRock Closed Ended Funds

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PUBLICATION: 08/09/2022 5:30 p.m. / DISK: 08/09/2022 5:32 p.m.