Eaton Vance New York Municipal Bond Fund II* Report of Earnings
BOSTON, March 3 /PRNewswire-FirstCall/ -- Eaton Vance New York Municipal Bond Fund II (NYSE Amex: NYH) (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 $553,891 ($0.216 per common share). From this amount, the Fund paid dividends on preferred shares of $14,471 (equal to $0.006 for each common share), resulting in net investment income after the preferred dividends of $539,420, or $0.210 per common share. In comparison, for the three months ended December 31, 2008, the Fund had net investment income of $538,696 ($0.211 per common share). From this amount, the Fund paid dividends on preferred shares of $105,361 (equal to $0.041 for each common share), resulting in net investment income after the preferred dividends of $433,335, or $0.170 per common share.
Net realized and unrealized losses for the three months ended December 31, 2009 were $1,921,094 ($0.751 per common share). In comparison, net realized and unrealized losses for the three months ended December 31, 2008 were $5,231,781 ($2.047 per common share).
On December 31, 2009, net assets of the Fund applicable to common shares were $32,914,981. The net asset value per common share on December 31, 2009 was $12.86 based on 2,558,881 common shares outstanding. In comparison, on December 31, 2008, net assets of the Fund applicable to common shares were $24,208,549. The net asset value per common share on December 31, 2008 was $9.47 based on 2,555,954 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 New York Municipal Bond Fund II.
EATON VANCE NEW YORK MUNICIPAL BOND FUND II*
SUMMARY OF RESULTS OF OPERATIONS
(in thousands, except per share amounts)
Three Months Ended Three Months Ended
December 31, December 31,
------------ ------------
2009 2008
---- ----
Net investment income $554 $539
Net realized and unrealized gains
(losses) on investments (1,921) (5,232)
Preferred dividends paid from
net investment income (14) (105)
--- ----
Net increase (decrease) in net
assets from operations $(1,381) $(4,798)
======= =======
Earnings per Common Share
Outstanding
-------------------------
Net investment income $0.216 $0.211
Net realized and unrealized gains
(losses) on investments (0.751) (2.047)
Preferred dividends paid from
net investment income (0.006) (0.041)
------ ------
Net increase (decrease) in net
assets from operations $(0.541) $(1.877)
======= =======
Net investment income $0.216 $0.211
Preferred dividends paid from
net investment income (0.006) (0.041)
------ ------
Net investment income after
preferred dividends $0.210 $0.170
====== ======
Net Asset Value at December 31
(Common Shares)
------------------------------
Net assets $32,915 $24,209
Shares outstanding 2,559 2,556
Net asset value per share
outstanding $12.86 $9.47
Market Value Summary
(Common Shares)
---------------------
Market price on NYSE Amex at
December 31 $12.91 $8.85
High market price (period ended
December 31) $14.24 $10.88
Low market price (period ended
December 31) $12.91 $7.50
* Effective February 1, 2010, the name of the Fund was changed from
Eaton Vance Insured New York Municipal Bond Fund II.
SOURCE Eaton Vance Management
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