BLACKROCK MID CAP DIVIDEND SERIES, INC.
BlackRock Mid Cap Dividend Fund
(the “Fund”)
Supplement dated June 7, 2021 to the Statement of Additional Information (“SAI”)
of the Fund, dated August 28, 2020, as supplemented to date
Effective June 8, 2021, the following changes are made to the Fund’s SAI:
The section entitled “Management, Advisory and Other Service Arrangements — Information Regarding the Portfolio Managers” is revised as follows:
The first paragraph is deleted in its entirety and replaced with the following:
The Fund is managed by a team of financial professionals. Tony DeSpirito and David Zhao are the co-portfolio managers and are jointly and primarily responsible for the day-to-day management of the Fund.
The sub-section entitled “Other Funds and Accounts Managed” is deleted in its entirety and replaced with the following:
The following table sets forth information about funds and accounts other than the Fund for which the Fund’s portfolio managers are primarily responsible for the day-to-day portfolio management as of April 30, 2020.
| Number of Other Accounts Managed and Assets by Account Type |
Number of Other Accounts and Assets for Which Advisory Fee is Performance-Based | |||||||||||
| Name of Portfolio Manager |
Other Registered Investment Companies |
Other Investment Vehicles |
Other Accounts |
Other Registered Investment Companies |
Other Investment Vehicles |
Other Accounts | ||||||
| Tony DeSpirito | 15 $24.40 Billion |
7 $2.68 Billion |
4 $406.53 Million |
0 $0 |
0 $0 |
0 $0 | ||||||
| David Zhao | 15 $24.40 Billion |
7 $2.68 Billion |
4 $406.53 Million |
0 $0 |
0 $0 |
0 $0 | ||||||
The sub-section entitled “Discretionary Incentive Compensation” is deleted in its entirety and replaced with the following:
Generally, discretionary incentive compensation for Fundamental Equities portfolio managers is based on a formulaic compensation program. BlackRock’s formulaic portfolio manager compensation program is based on team revenue and pre-tax investment performance relative to appropriate competitors or benchmarks over 1-, 3- and 5-year performance periods, as applicable. In most cases, these benchmarks are the same as the benchmark or benchmarks against which the performance of the Fund or other accounts managed by the portfolio managers are measured. BlackRock’s Chief Investment Officers determine the benchmarks or rankings against which the performance of the Fund and other accounts managed by each portfolio management team is compared and the period of time over which performance is evaluated. With respect to these portfolio managers, such benchmarks for the Fund and other accounts are:
| Portfolio Manager |
Benchmarks | |
| Tony DeSpirito David Zhao |
50% SNP500NR2/50% SP5100OW Index; FTSE United States in GBP; MSCI All Country (AC) Americas Index; Russell 1000 Index (GBP); Russell 1000 Index (Gross Total Return); Russell 1000 Value Index (Total Return); Russell 1000 Value Index TR in GBP; Russell 1000 Value TR Customized Index Performance Benchmark JPY; Russell 1000, expressed in EUR; Russell MidCap Value Index; S&P 500 Net Dividends Reinvested Index (Net USD); S&P United States MidSmallCap Index; S&P US MidSmallCap Index (GBP) |
A smaller element of portfolio manager discretionary compensation may include consideration of: financial results, expense control, profit margins, strategic planning and implementation, quality of client service, market share, corporate reputation, capital allocation, compliance and risk control, leadership, technology and innovation. These factors are considered collectively by BlackRock management and the relevant Chief Investment Officers.
The sub-section entitled “Portfolio Manager Beneficial Holdings” is deleted in its entirety and replaced with the following:
The following table sets forth the dollar range of equity securities of the Fund beneficially owned by each portfolio manager as of April 30, 2020.
| Portfolio Manager | Dollar Range | ||||
| Tony DeSpirito | $500,001-$1,000,000 | ||||
| David Zhao | $100,001-$500,000 | ||||
Shareholders should retain this Supplement for future reference.
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