Eaton Vance Municipal Income Trust Report of Earnings
BOSTON, April 29 /PRNewswire-FirstCall/ -- Eaton Vance Municipal Income Trust (NYSE: EVN) (the "Trust"), a diversified closed-end management investment company, today announced the earnings of the Trust for the three months ends February 28, 2010. The Trust's fiscal year ends on November 30, 2010.
For the three months ended February 28, 2010, the Trust had net investment income of $5,734,025 ($0.255 per common share). From this amount, the Trust paid dividends on preferred shares of $107,881 (equal to $0.005 for each common share), resulting in net investment income after the preferred dividends of $5,626,144, or $0.250 per common share. In comparison, for the three months ended February 28, 2009, the Trust had net investment income of $3,994,285 ($0.231 per common share). From this amount, the Trust paid dividends on preferred shares of $265,614 (equal to $0.015 for each common share), resulting in net investment income after the preferred dividends of $3,728,671 or $0.216 per common share.
Net realized and unrealized gains for the three months ended February 28, 2010 were $11,088,290 ($0.493 per common share). In comparison, net realized and unrealized gains for the three months ended February 28, 2009 were $9,493,835 ($0.548 per common share).
On February 28, 2010, net assets of the Trust applicable to common shares were $255,798,207. The net asset value per common share on February 28, 2010 was $11.35 based on 22,529,343 common shares outstanding. In comparison, on February 28, 2009, net assets applicable to the common shares of the Trust were $150,207,770. The net asset value per common share on February 28, 2009 was $8.66 based on 17,335,819 common shares outstanding.
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 $173.1 billion in assets as of March 31, 2010 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 MUNICIPAL INCOME TRUST |
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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 |
Three Months Ended |
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February 28, |
February 28, |
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2010 |
2009 |
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Net investment income |
$ 5,734 |
$ 3,994 |
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Net realized and unrealized gains (losses) |
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on investments |
11,088 |
9,494 |
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Preferred dividends paid from net investment income (1) |
(108) |
(266) |
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Net increase (decrease) in net assets |
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from operations |
$ 16,714 |
$ 13,222 |
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Earnings per Common Share Outstanding |
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Net investment income |
$ 0.255 |
$ 0.231 |
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Net realized and unrealized gains (losses) |
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on investments |
0.493 |
0.548 |
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Preferred dividends paid from net investment income (1) |
(0.005) |
(0.015) |
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Net increase (decrease) in net assets |
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from operations |
$ 0.743 |
$ 0.764 |
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Net investment income |
$ 0.255 |
$ 0.231 |
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Preferred dividends paid from net investment income (1) |
(0.005) |
(0.015) |
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Net investment income after preferred dividends |
$ 0.250 |
$ 0.216 |
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Net Asset Value at February 28 |
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Net assets |
$255,798 |
$ 150,208 |
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Shares outstanding |
22,529 |
17,336 |
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Net asset value per share outstanding |
$11.35 |
$ 8.66 |
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Market Value Summary |
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Market price on NYSE Amex at February 28 |
$12.25 |
$ 10.23 |
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High market price (period ended February 28) |
$12.47 |
$ 10.94 |
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Low market price (period ended February 28) |
$11.46 |
$ 6.31 |
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(1) During the period ended February 28, 2009, the Trust made a partial redemption of its preferred shares. |
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SOURCE Eaton Vance Management
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