BlackRock MuniHoldings Fund, Inc. announces an Equity Buyback for repurchase of its own shares, representing 5% of its issued share capital.
September 08, 2022 at 12:00 am
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BlackRock MuniHoldings Fund, Inc. (NYSE:MHD) announces a share repurchase program. Under the program, the company will repurchase its own shares, representing 5% of its issued share capital. The purpose of the plan is to enhance shareholder value. The repurchases will commence on December 1, 2022 and will be valid till November 30, 2023.
BlackRock Advisors, LLC acted as legal advisor to the company.
BlackRock MuniHoldings Fund, Inc. (the Fund) is a closed-end management investment company. The Fund's investment objective is to provide shareholders with current income exempt from United States federal income taxes. The seeks to achieve its investment objective by investing primarily in a portfolio of medium- to lower-grade or unrated municipal obligations. The Fund seeks to achieve its investment objective by investing at least 80% of its assets in municipal bonds exempt from United States federal income taxes. The Fund invests at least 75% of its assets in municipal bonds that are rated in the medium to lower rating categories. The Fund may invest directly in such securities or synthetically through the use of derivatives. The Fund invests in various sectors, such as transportation, health, utilities, education, tobacco, corporate, and housing, among others. BlackRock Advisors, LLC is the Fund's investment advisor.