BKT - BlackRock Income Trust to complete 1-for-3 reverse stock split

• The board of BlackRock Income Trust ( NYSE: BKT ), launched by asset manager BlackRock ( BLK ), approved Friday a 1-for-3 reverse stock split of the closed ended fixed income mutual fund's common stock .
• BlackRock Income Trust ( BKT ) shares drifted down 0.9% in Friday morning trading.
• In turn, every three shares of BKT's outstanding common stock will be converted into one share of common stock in a move that will decrease the number of its common shares outstanding.
• It's fixed monthly distribution, as a result, will be adjusted to $0.0882 per share from $0.0294, starting with the first distribution to be declared following the effective date of the reverse stock split.
• The fund expects to complete the reverse stock split prior to the open of trading on October 18 for shareholders of record as of the close of business on October 17. The shares will start trading on a post-reverse stock split basis starting on October 18, under a new CUSIP number: 09247F209.
• Previously, (Sep. 2) BlackRock Income Trust declares $0.0294 monthly dividend .

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