Eaton Vance Tax-Managed Buy-Write Income Fund Report of Earnings
Wed Sep 2, 2:41 PM
BOSTON, Sept. 2 /PRNewswire-FirstCall/ -- Eaton Vance Tax-Managed Buy-Write Income Fund (NYSE: ETB), a diversified closed-end investment company, today announced the earnings of the Fund for the three months ended June 30, 2009 and the six months ended June 30, 2009. The Fund's fiscal year ends on December 31, 2009.
For the three months ended June 30, 2009, the Fund had net investment income of $1,308,128 ($0.053 per common share). For the six months ended June 30, 2009, the Fund had net investment income of $2,983,721 ($0.121 per common share). In comparison, for the three months ended June 30, 2008, the Fund had net investment income of $1,700,000 ($0.070 per common share). For the six months ended June 30, 2008, the Fund had net investment income of $3,285,085 ($0.134 per common share).
Net realized and unrealized gains for the three months ended June 30, 2009 were $40,997,913 ($1.666 per common share) and net realized and unrealized gains for the six months ended June 30, 2009 were $26,561,895 ($1.079 per common share). In comparison, net realized and unrealized losses for the three months ended June 30, 2008 were $7,335,850 ($0.301 per common share) and net realized and unrealized losses for the six months ended June 30, 2008 were $37,160,727 ($1.514 per common share).
On June 30, 2009, net assets of the Fund were $343,033,197. The net asset value per common share on June 30, 2009 was $13.95 based on 24,581,806 common shares outstanding. In comparison, on June 30, 2008, net assets of the Fund were $429,633,737. The net asset value per common share on June 30, 2008 was $17.48 based on 24,581,806 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 $143.7 billion in assets as of July 31, 2009, 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.
EATON VANCE TAX MANAGED BUY-WRITE INCOME FUND
SUMMARY OF RESULTS OF OPERATIONS
(in thousands, except per share amounts)
Three Months Ended Six Months Ended
June 30, June 30,
-------- --------
2009 2008 2009 2008
---- ---- ---- ----
Gross investment income $2,281 $2,893 $4,830 $5,726
Operating expenses ($973) ($1,193) ($1,846) ($2,441)
----- ------- ------- -------
Net investment income $1,308 $1,700 $2,984 $3,285
Net realized and unrealized gains
(losses) on investments $40,998 ($7,336) $26,562 ($37,161)
------- ------- ------- --------
Net increase (decrease) in net
assets from operations $42,306 ($5,636) $29,546 ($33,876)
======= ======= ======= ========
Earnings per Share Outstanding
------------------------------
Gross investment income $0.092 $0.118 $0.196 $0.233
Operating expenses ($0.039) ($0.048) ($0.075) ($0.099)
------- ------- ------- -------
Net investment income $0.053 $0.070 $0.121 $0.134
Net realized and unrealized gains
(losses) on investments $1.666 ($0.301) $1.079 ($1.514)
------ ------- ------ -------
Net increase (decrease) in net
assets from operations $1.719 ($0.231) $1.200 ($1.380)
====== ======= ====== =======
Net Asset Value at June 30 (Common Shares)
------------------------------------------
Net assets $343,033 $429,634
Shares outstanding 24,582 24,582
Net asset value per share outstanding $13.95 $17.48
Market Value Summary (Common Shares )
-------------------------------------
Market price on NYSE at June 30 $14.04 $16.83
High market price (period ended June 30) $14.18 $18.11
Low market price (period ended June 30) $9.08 $15.66
SOURCE Eaton Vance Management
158.94 (1.43%)
