# EDGAR Filing Document

**Accession Number:** 0000814507
**File Stem:** 0001193125-25-151398
**Filing Date:** 2025-6
**Character Count:** 6293
**Document Hash:** 2c9f7fc8f65b0bf938bd9667f43e4566
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-151398.hdr.sgml**: 20250627

**ACCESSION NUMBER**: 0001193125-25-151398

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 11

**FILED AS OF DATE**: 20250627

**DATE AS OF CHANGE**: 20250627

**EFFECTIVENESS DATE**: 20250627

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BLACKROCK EQUITY DIVIDEND FUND
- **CENTRAL INDEX KEY:** 0000814507

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-14517
- **FILM NUMBER:** 251087401

**BUSINESS ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 08543-9011
- **BUSINESS PHONE:** 800-441-7762

**MAIL ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 08543-9011

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MERRILL LYNCH EQUITY DIVIDEND FUND
- **DATE OF NAME CHANGE:** 20051128

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MERRILL LYNCH EQUITY INCOME FUND
- **DATE OF NAME CHANGE:** 20010103

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MERRILL LYNCH DIVIDEND APPRECIATION FUND
- **DATE OF NAME CHANGE:** 19870803

## Series and Classes Contracts Data

### BLACKROCK EQUITY DIVIDEND FUND (Series ID: S000002243)

---

|  |  |
|:---|:---|
| Class Name    | Class ID   |
| Investor A    | C000005780 |
| Investor C    | C000005782 |
| Institutional | C000005783 |
| Class R       | C000005784 |
| Service       | C000038256 |
| Class K       | C000166015 |

---

## Series and Classes Contracts Data

### BLACKROCK EQUITY DIVIDEND FUND (Series ID: S000002243)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000005780 | Investor A    |  |
| C000005782 | Investor C    |  |
| C000005783 | Institutional |  |
| C000005784 | Class R       |  |
| C000038256 | Service       |  |
| C000166015 | Class K       |  |

?xml version='1.0' encoding='ASCII'? BLACKROCK EQUITY DIVIDEND FUND

------

#### BLACKROCK EQUITY DIVIDEND FUND
(the "Fund")

#### Supplement dated June 27, 2025 to the Summary Prospectuses and Prospectuses of the Fund,

#### each dated August 28, 2024, as supplemented to date
On November 19, 2024, the Board of Trustees of the Fund approved certain changes to the Fund's investment strategy and investment process in order to satisfy new requirements pursuant to the recent amendments to Rule 35d-1 under the Investment Company Act of 1940 (the "Names Rule"). These changes are expected to become effective on or about August 28, 2025.

#### Accordingly, effective on or about August 28, 2025, the following changes are made to the Fund's Summary Prospectuses and Prospectuses, as applicable:
**The first paragraph of the sections of the Summary Prospectuses and Prospectuses entitled "Key Facts About BlackRock Equity Dividend Fund — Principal Investment Strategies of the Fund" and "Fund Overview — Key Facts About BlackRock Equity Dividend Fund — Principal Investment Strategies of the Fund" are deleted in their entirety and replaced with the following:** 

The Fund seeks to achieve its objective by investing primarily in a diversified portfolio of equity securities. Under normal circumstances, the Fund will invest at least 80% of its net assets, plus any borrowings for investment purposes, in dividend-paying equity securities and derivatives that provide investment exposure to such securities or to one or more market risk factors associated with such securities. The Fund may invest in securities of companies with any market capitalization, but will generally focus on large cap securities. The Fund may also invest in convertible securities and non-convertible preferred stock. Equity securities include common stock, preferred stock, or securities or other instruments whose price is linked to the value of common stock. For purposes of the Fund's 80% policy, dividend-paying equity securities are securities of companies that pay out a portion of their profits to shareholders of such securities on a periodic basis (i.e., at least once within the company's latest fiscal year).

**The second paragraph of the section of the Prospectuses entitled "Details About the Fund — How the Fund Invests — Investment Process" is deleted in its entirety and replaced with the following:** 

Fund management believes that stocks that have yields often provide more attractive long-term total return and greater price stability during periods of downward movements in market prices than stocks that do not pay dividends. In certain market cycles, such as periods of high growth or high interest rates on bonds, dividend-paying stocks could go out of favor. During such periods, the Fund may underperform other equity funds that do not emphasize investments in dividend-paying stocks.

**The first paragraph of the section of the Prospectuses entitled "Details About the Fund — How the Fund Invests — Principal Investment Strategies" is deleted in its entirety and replaced with the following:** 

The Fund seeks to achieve its objective by investing primarily in a diversified portfolio of equity securities. Under normal circumstances, the Fund will invest at least 80% of its net assets, plus any borrowings for investment purposes, in dividend-paying equity securities and derivatives that provide investment exposure to such securities or to one or more market risk factors associated with such securities. Equity securities include common stock, preferred stock or securities or other instruments whose price is linked to the value of common stock. For purposes of the Fund's 80% policy, dividend-paying equity securities are securities of companies that pay out a portion of their profits to shareholders of such securities on a periodic basis (i.e., at least once within the company's latest fiscal year). The Fund will focus on issuers that have good prospects for capital appreciation and current income. Although the Fund invests primarily in dividend-paying securities, portions of the distributions paid by the Fund may not be subject to the lower income tax rates applicable to dividends.

#### Shareholders should retain this Supplement for future reference.
PRSAI-EQD-0625SUP