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BlackRock Advisors announced the reorganization of BlackRock MuniYield New Jersey Fund, Inc. (MYJ) into BlackRock MuniHoldings New Jersey Quality Fund, Inc. (MUJ), effective April 11, 2022. Shareholders of MYJ received MUJ shares equivalent to their net asset value as of April 8, 2022. The conversion ratio for common shares was 1.01086784. Preferred shareholders of MYJ also received MUJ preferred shares. This move aims to streamline operations and enhance shareholder value. Investors are encouraged to review the Joint Proxy Statement/Prospectus for important details regarding the reorganization.
BlackRock Advisors has announced a special distribution for the BlackRock MuniYield New Jersey Fund (MYJ) and an early declaration for the BlackRock MuniHoldings New Jersey Quality Fund (MUJ) in connection with the reorganization of MYJ into MUJ. The special distribution for MYJ, amounting to $0.0625 per share, is to be paid on May 2, 2022, with an ex-dividend date of April 6, 2022. The reorganization is scheduled for completion by April 11, 2022, after which MYJ shares will cease trading on the NYSE. MUJ will also declare its monthly distribution of $0.0630 on the same date.
BlackRock Advisors announced that shareholders of BlackRock MuniYield New Jersey Fund (NYSE: MYJ) and BlackRock MuniHoldings New Jersey Quality Fund (NYSE: MUJ) approved the reorganization of MYJ into MUJ. The reorganization is expected to occur in early Q2 2022, contingent upon customary closing conditions. Upon completion, MYJ's Variable Rate Demand Preferred Shares will convert to an equal number of MUJ shares, based on the net asset value of both funds. This press release is not an offer to buy or sell shares in these funds.
BlackRock Advisors announced that the special meeting of shareholders for BlackRock MuniYield New Jersey Fund (MYJ) and BlackRock MuniHoldings New Jersey Quality Fund (MUJ) did not secure the necessary votes for their proposed reorganization. The meeting has been adjourned to March 4, 2022, at 10:00 a.m. (Eastern time) to continue soliciting proxies from shareholders. The reorganization, aiming to merge MYJ into MUJ, will not proceed without the requisite shareholder approval.
BlackRock Advisors has announced the reorganization of the BlackRock MuniYield New Jersey Fund (MYJ) into the BlackRock MuniHoldings New Jersey Quality Fund (MUJ), continuing as the surviving entity. This consolidation is set to complete in the first half of 2022, pending shareholder approvals and regulatory conditions. The decision aims to streamline operations and enhance shareholder value. Shareholders are advised to review forthcoming Proxy Statements for detailed information regarding the reorganization, including investment objectives and risk factors.
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