Eaton Vance Municipal Bond Fund II* Report of Earnings
BOSTON, March 3 /PRNewswire-FirstCall/ -- Eaton Vance Municipal Bond Fund II (NYSE Amex: EIV) (the "Fund"), a closed-end management investment company, today announced the earnings of the Fund for the three months ended December 31, 2009. The Fund's fiscal year ends on September 30, 2010.
For the three months ended December 31, 2009, the Fund had net investment income of $2,416,183 ($0.243 per common share). From this amount, the Fund paid dividends on preferred shares of $48,297 (equal to $0.005 for each common share), resulting in net investment income after the preferred dividends of $2,367,886, or $0.238 per common share. In comparison, for the three months ended December 31, 2008, the Fund had net investment income of $2,198,969 ($0.221 per common share). From this amount, the Fund paid dividends on preferred shares of $366,074 (equal to $0.037 for each common share), resulting in net investment income after the preferred dividends of $1,832,895, or $0.184 per common share.
Net realized and unrealized losses for the three months ended December 31, 2009 were $9,279,170 ($0.932 per common share). In comparison, net realized and unrealized losses for the three months ended December 31, 2008 were $21,847,359 ($2.198 per common share).
On December 31, 2009, net assets of the Fund applicable to common shares were $118,993,922. The net asset value per common share on December 31, 2009 was $11.95 based on 9,956,828 common shares outstanding. In comparison, on December 31, 2008, net assets of the Fund applicable to common shares were $87,734,363. The net asset value per common share on December 31, 2008 was $8.83 based on 9,941,127 common shares outstanding.
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 United States, with a history dating back to 1924. Eaton Vance and its affiliates managed $161.6 billion in assets as of January 31, 2010 offering individuals and institutions a broad array of investment products 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.
* Effective February 1, 2010, the name of the Fund was changed from Eaton Vance Insured Municipal Bond Fund II.
EATON VANCE MUNICIPAL BOND FUND II*
SUMMARY OF RESULTS OF OPERATIONS
(in thousands, except per share amounts)
Three Months Three Months
Ended Ended
December 31, December 31,
------------ ------------
2009 2008
---- ----
Net investment income $2,416 $2,199
Net realized and unrealized gains (losses)
on investments (9,279) (21,847)
Preferred dividends paid from net
investment income (48) (366)
--- ----
Net increase (decrease) in net assets
from operations $(6,911) $(20,014)
======= ========
Earnings per Common Share Outstanding
-------------------------------------
Net investment income $0.243 $0.221
Net realized and unrealized gains (losses)
on investments (0.932) (2.198)
Preferred dividends paid from net
investment income (0.005) (0.037)
------ ------
Net increase (decrease) in net assets
from operations $(0.694) $(2.014)
======= =======
Net investment income $0.243 $0.221
Preferred dividends paid from net
investment income (0.005) (0.037)
------ ------
Net investment income after preferred
dividends $0.238 $0.184
====== ======
Net Asset Value at December 31 (Common Shares)
----------------------------------------------
Net assets $118,994 $87,734
Shares outstanding 9,957 9,941
Net asset value per share outstanding $11.95 $8.83
Market Value Summary (Common Shares)
------------------------------------
Market price on NYSE Amex at December 31 $12.90 $8.91
High market price (period ended December 31) $13.77 $11.25
Low market price (period ended December 31) $12.63 $7.04
* Effective February 1, 2010, the name of the Fund was changed from
Eaton Vance Insured Municipal Bond Fund II.
SOURCE Eaton Vance Management
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