BlackRock California Investment Quality Municipal Trust makes announcement.NEW YORK--(BUSINESS WIRE)--July 1, 1996--The Board of Directors of The BlackRock California Investment Quality Municipal Trust Inc. (AMEX AMEX See: American Stock Exchange Symbol: RAA RAA Residential Accredited Appraiser (National Association of Realtors) RAA Reinsurance Association of America RAA Reeve Aleutian Airways RAA Regional Airline Association RAA Royal Australian Artillery ) is pleased to announce an increase in the Trust's monthly dividend to $0.07 ($0.84 annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. ) from $0.06560 ($0.7872 annualized) effective with the July 31, 1996 dividend payment. At the Trust's current stock price of $11.875, the increased dividend rate represents a current annualized yield of 7.07 percent. This increase is being made in accordance Accordance is Bible Study Software for Macintosh developed by OakTree Software, Inc.[] As well as a standalone program, it is the base software packaged by Zondervan in their Bible Study suites for Macintosh. with the Trust's investment objective to provide high monthly income exempt from regular Federal and California income taxes consistent with the preservation of capital Preservation of Capital An investment strategy whose primary goal is to prevent the loss of an investment's total value. Notes: For investors using the capital preservation strategy to achieve their goal, they must ensure their portfolio is producing a return that is at . After careful evaluation of the Trust's current and anticipated net investment income levels, the Board determined that the Trust could sustain higher dividend payments to shareholders. Any questions concerning the Trust should be directed to BlackRock's marketing center at 800-227-7236. -0- AMEX Symbol: RAA Cusip: 09247U 10 7 Monthly Dividend: $0.07 Record Date: July 15, 1996 Declaration Date: July 1, 1996 Payable Date: July 31, 1996 Ex-Dividend Date: July 11, 1996 CONTACT: BlackRock California Investment Quality Municipal Trust Inc. 800/227-7236 |
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