Eaton Vance Michigan Municipal Income Trust Report Of Earnings

BOSTON, Jan. 31, 2013 /PRNewswire/ -- Eaton Vance Michigan Municipal Income Trust (NYSE MKT: EMI) (the "Trust"), a closed-end management investment company, today announced the earnings of the Trust for the three months and year ended November 30, 2012. The Trust's fiscal year ended on November 30, 2012.

For the three months ended November 30, 2012, the Trust had net investment income of $391,732 ($0.185 per common share).  From this amount, the Trust paid dividends on preferred shares of $12,389 (equal to $0.006 for each common share), resulting in net investment income after the preferred dividends of $379,343, or $0.179 per common share. The Trust's net investment income for the year ended November 30, 2012 was $1,609,283 ($0.760 per common share, before deduction of the preferred share dividends totaling $0.021 per common share), resulting in net investment income after the preferred dividends of $0.739 per common share. In comparison, for the three months ended November 30, 2011, the Trust had net investment income of $413,275 ($0.196 per common share).  From this amount, the Trust paid dividends on preferred shares of $10,018 (equal to $0.004 for each common share), resulting in net investment income after the preferred dividends of $403,257, or $0.192 per common share. The Trust's net investment income for the year ended November 30, 2011 was $1,747,303 ($0.826 per common share, before deduction of the preferred share dividends totaling $0.025 per common share), resulting in net investment income after the preferred dividends of $0.801 per common share. 

Net realized and unrealized gains for the three months ended November 30, 2012 were $1,195,198 ($0.573 per common share). The Trust's net realized and unrealized gains for the year ended November 30, 2012 were $4,096,358 ($1.944 per common share). In comparison, net realized and unrealized gains for the three months ended November 30, 2011 were $275,350 ($0.128 per common share). The Trust's net realized and unrealized gains for the year ended November 30, 2011 were $1,185,888 ($0.558 per common share).

On November 30, 2012, net assets of the Trust applicable to common shares were $32,391,135. The net asset value per common share on November 30, 2012 was $15.31 based on 2,116,294 common shares outstanding. In comparison, on November 30, 2011, net assets of the Trust applicable to common shares were $28,366,330. The net asset value per common share on November 30, 2011 was $13.40 based on 2,116,294 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 $238.4 billion in assets as of December 31, 2012, 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.

SOURCE Eaton Vance Management

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