BlackRock California Municipal Income Trust Receives Resounding Support of Shareholders at 2023 Annual Meeting

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07/12/2023 - 01:44 PM

Preliminary Results Indicate All Four BlackRock Board Nominees Are Reelected

NEW YORK--(BUSINESS WIRE)-- BlackRock LLC (“BlackRock”) announced today that, based on the preliminary voting results of the 2023 Annual Meeting of Shareholders (the “Annual Meeting”) of BlackRock California Municipal Income Trust (NYSE: BFZ) (the “Fund”), shareholders of the Fund’s preferred and common shares voted to reelect all four BFZ Board Nominees: R. Glenn Hubbard, W. Carl Kester, Lorenzo A. Flores and John M. Perlowski.

“The Board of BlackRock’s closed-end funds thanks BFZ shareholders for their participation and continued support, and for their clear rejection of the underqualified nominees presented by the dissident. The preliminary voting results of the 2023 Annual Meeting underscore the Board’s proven track record of enhancing long-term shareholder value and the ability of the Board Nominees to deliver strong relative performance and consistent tax-exempt distributions to investors. The Board appreciates this resounding vote of confidence and will continue its stewardship of the Fund to align with the best interests of all shareholders,” said R. Glenn Hubbard, Chair of the Board of BlackRock Closed-End Funds.

The preliminary vote count is subject to certification by the independent inspector of elections.

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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.

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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 a 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 a 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.