Eaton Vance Enhanced Equity Income Fund Report of Earnings
BOSTON, Dec. 22, 2011 /PRNewswire/ -- Eaton Vance Enhanced Equity Income Fund (NYSE: EOI), a diversified closed-end investment company, today announced the earnings of the Fund for the three months and the year ended September 30, 2011. The Fund's fiscal year ended on September 30, 2011.
For the three months ended September 30, 2011, the Fund had net investment income of $693,945 ($0.018 per common share). For the year ended September 30, 2011, the Fund had net investment income of $2,711,768 ($0.068 per common share). In comparison, for the three months ended September 30, 2010, the Fund had net investment income of $934,520 ($0.024 per common share). For the year ended September 30, 2010, the Fund had net investment income of $3,664,253 ($0.092 per common share).
Net realized and unrealized losses for the three months ended September 30, 2011 were $76,150,873 ($1.911 per common share) and net realized and unrealized losses for the year ended September 30, 2011 were $25,215,527 ($0.636 per common share). In comparison, net realized and unrealized gains for the three months ended September 30, 2010 were $37,147,994 ($0.934 per common share) and net realized and unrealized gains for the year ended September 30, 2010 were $31,292,133 ($0.787 per common share).
On September 30, 2011, net assets of the Fund were $445,813,932. The net asset value per common share on September 30, 2011 was $11.15 based on 39,970,049 common shares outstanding. In comparison, on September 30, 2010, net assets of the Fund were $513,953,097. The net asset value per common share on September 30, 2010 was $12.87 based on 39,939,517 common shares outstanding.
The Fund periodically makes certain performance data and information about portfolio characteristics available on www.eatonvance.com (on the fund information page under "Individual Investors – Closed-End Funds"). Fund portfolio holdings for the most recent calendar quarter-end are also posted to the website approximately 30 days following quarter -end.
The Fund is managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp.(NYSE: EV), based in Boston, one of the oldest investment management firms in the UnitedStates, with a history dating back to 1924. Eaton Vance and its affiliates managed $188.2billion in assets as of October 31, 2011, offering individuals and institutions a broad arrayof investment strategies and wealth management solutions. The Company's long record ofproviding exemplary service and attractive returns through a variety of market conditionshas made Eaton Vance the investment manager of choice for many of today's mostdiscerning investors. For more information about Eaton Vance, visit www.eatonvance.com.
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| EATON VANCE ENHANCED EQUITY INCOME FUND |
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| SUMMARY OF RESULTS OF OPERATIONS |
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| (in thousands, except per share amounts) |
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Three Months Ended |
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Year Ended |
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September 30, |
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September 30, |
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2011 |
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2010 |
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2011 |
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2010 |
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| Gross investment income |
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$ 2,131 |
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$ 2,321 |
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$ 8,729 |
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$ 9,613 |
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| Operating expenses |
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(1,437) |
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(1,386) |
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(6,017) |
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(5,949) |
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Net investment income |
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$ 694 |
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$ 935 |
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$ 2,712 |
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$ 3,664 |
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| Net realized and unrealized gains (losses) |
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| on investments |
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$(76,151) |
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$ 37,148 |
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$ (25,216) |
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$ 31,292 |
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Net increase (decrease) in net assets |
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from operations |
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$(75,457) |
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$ 38,083 |
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$ (22,504) |
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$ 34,956 |
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| Earnings per Common Share Outstanding |
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| Gross investment income |
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$ 0.053 |
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$ 0.058 |
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$ 0.218 |
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$ 0.241 |
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| Operating expenses |
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(0.035) |
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(0.034) |
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(0.150) |
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(0.149) |
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Net investment income |
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$ 0.018 |
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$ 0.024 |
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$ 0.068 |
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$ 0.092 |
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| Net realized and unrealized gains (losses) |
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| on investments |
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$ (1.911) |
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$ 0.934 |
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$ (0.636) |
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$ 0.787 |
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Net increase (decrease) in net assets |
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from operations |
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$ (1.893) |
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$ 0.958 |
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$ (0.568) |
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$ 0.879 |
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| Net Asset Value at September 30 (Common Shares) |
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Net assets |
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$ 445,814 |
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$ 513,953 |
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Shares outstanding |
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39,970 |
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39,940 |
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Net asset value per share outstanding |
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$ 11.15 |
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$ 12.87 |
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| Market Value Summary (Common Shares) |
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Market price on NYSE at September 30 |
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$ 9.78 |
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$ 12.99 |
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High market price (period ended September 30) |
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$ 13.47 |
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$ 14.75 |
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Low market price (period ended September 30) |
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$ 9.75 |
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$ 12.25 |
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SOURCE Eaton Vance Management
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