Eaton Vance Massachusetts Municipal Income Trust Report Of Earnings
BOSTON, Nov. 24, 2014 /PRNewswire/ -- Eaton Vance Massachusetts Municipal Income Trust (NYSE MKT: MMV) (the "Trust"), a closed-end management investment company, today announced the earnings of the Trust for the three and nine-month periods ended August 31, 2014. The Trust's fiscal year ends on November 30, 2014.
For the three months ended August 31, 2014, the Trust had net investment income of $496,328 ($0.181 per common share). From this amount, the Trust paid dividends on preferred shares of $5,368 (equal to $0.002 for each common share), resulting in net investment income after the preferred dividends of $490,960, or $0.179 per common share. The Trust's net investment income for the nine months ended August 31, 2014 was $1,495,544 ($0.544 per common share, before deduction of the preferred share dividends totaling $0.006 per common share), resulting in net investment income after the preferred dividends of $0.538 per common share. In comparison, for the three months ended August 31, 2013, the Trust had net investment income of $517,071 ($0.188 per common share). From this amount, the Trust paid dividends on preferred shares of $5,840 (equal to $0.002 for each common share), resulting in net investment income after the preferred dividends of $511,231, or $0.186 per common share. The Trust's net investment income for the nine months ended August 31, 2013 was $1,549,819 ($0.563 per common share, before deduction of the preferred share dividends totaling $0.010 per common share), resulting in net investment income after the preferred dividends of $0.553 per common share.
Net realized and unrealized gains for the three months ended August 31, 2014 were $497,084 ($0.172 per common share). The Trust's net realized and unrealized gains for the nine months ended August 31, 2014 were $3,804,780 ($1.383 per common share). In comparison, net realized and unrealized losses for the three months ended August 31, 2013 were $5,451,035 ($1.980 per common share). The Trust's net realized and unrealized losses for the nine months ended August 31, 2013 were $8,257,948 ($3.002 per common share).
On August 31, 2014, net assets of the Trust applicable to common shares were $41,596,657. The net asset value per common share on August 31, 2014 was $15.12 based on 2,750,521 common shares outstanding. In comparison, on August 31, 2013, net assets of the Trust applicable to common shares were $36,193,908. The net asset value per common share on August 31, 2013 was $13.16 based on 2,750,521 common shares outstanding.
The Trust 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"). Trust portfolio holdings for the most recent month-end are also posted to the website approximately 30 days following month-end.
The Trust 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 United States, with a history dating back to 1924. Eaton Vance and its affiliates managed $297.7 billion in assets as of October 31, 2014, offering individuals and institutions a broad array of investment strategies and wealth management solutions. The Company's long record of providing exemplary service and attractive returns through a variety of market conditions has made Eaton Vance the investment manager of choice for many of today's most discerning investors. For more information about Eaton Vance, visit www.eatonvance.com.
| EATON VANCE MASSACHUSETTS MUNICIPAL INCOME TRUST |
||||||||
| SUMMARY OF RESULTS OF OPERATIONS |
||||||||
| (in thousands, except per share amounts) |
||||||||
| Three Months Ended |
Nine Months Ended |
|||||||
| August 31, |
August 31, |
|||||||
| 2014 |
2013 |
2014 |
2013 |
|||||
| Net investment income |
$ 496 |
$ 517 |
$ 1,496 |
$ 1,550 |
||||
| Net realized and unrealized gains (losses) |
||||||||
| on investments |
497 |
(5,451) |
3,805 |
(8,258) |
||||
| Preferred dividends paid from net investment income |
(5) |
(6) |
(17) |
(28) |
||||
| Net increase (decrease) in net assets |
||||||||
| from operations |
$ 988 |
$ (4,940) |
$ 5,284 |
$ (6,736) |
||||
| Earnings per Common Share Outstanding |
||||||||
| Net investment income |
$ 0.181 |
$ 0.188 |
$ 0.544 |
$ 0.563 |
||||
| Net realized and unrealized gains (losses) |
||||||||
| on investments |
0.172 |
(1.980) |
1.383 |
(3.002) |
||||
| Preferred dividends paid from net investment income |
(0.002) |
(0.002) |
(0.006) |
(0.010) |
||||
| Net increase (decrease) in net assets |
||||||||
| from operations |
$ 0.351 |
$ (1.794) |
$ 1.921 |
$ (2.449) |
||||
| Net investment income |
$ 0.181 |
$ 0.188 |
$ 0.544 |
$ 0.563 |
||||
| Preferred dividends paid from net investment income |
(0.002) |
(0.002) |
(0.006) |
(0.010) |
||||
| Net investment income after preferred dividends |
$ 0.179 |
$ 0.186 |
$ 0.538 |
$ 0.553 |
||||
| Net Asset Value at August 31 (Common Shares) |
||||||||
| Net assets |
$41,597 |
$36,194 |
||||||
| Shares outstanding |
2,751 |
2,751 |
||||||
| Net asset value per share outstanding |
$15.12 |
$13.16 |
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| Market Value Summary (Common Shares) |
||||||||
| Market price on NYSE MKT at August 31 |
$13.30 |
$12.36 |
||||||
| High market price (period ended August 31) |
$13.66 |
$16.39 |
||||||
| Low market price (period ended August 31) |
$11.86 |
$12.20 |
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/eaton-vance-massachusetts-municipal-income-trust-report-of-earnings-300000489.html
SOURCE Eaton Vance Management
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