Eaton Vance Municipal Income Trust Report of Earnings
Tue Aug 12, 2:30 PMBOSTON--(BUSINESS WIRE)--Eaton Vance Municipal Income Trust (NYSE: EVN) (the “Trust”), a closed-end management investment company, today announced the earnings of the Trust for the three and six month periods ended May 31, 2008. The Trust’s fiscal year ends on November 30, 2008.
For the three months ended May 31, 2008, the Trust had net investment income of $4,721,705 ($0.274 per common share). From this amount, the Trust paid dividends on preferred shares of $1,120,916 (equal to $0.065 for each common share), resulting in net investment income after the preferred dividends of $3,600,789 or $0.209 per common share. The Trust’s net investment income for the six months ended May 31, 2008 was $9,846,893 ($0.572 per common share, before deduction of the preferred share dividends totaling $0.138 per common share), resulting in net investment income after the preferred dividends of $0.434 per common share. In comparison, for the three months ended May 31, 2007, the Trust had net investment income of $4,507,844 ($0.263 per common share). From this amount, the Trust paid dividends on preferred shares of $1,205,911 (equal to $0.071 for each common share), resulting in net investment income after the preferred dividends of $3,301,933 or $0.192 per common share. The Trust’s net investment income for the six months ended May 31, 2007 was $9,163,147 ($0.534 per common share, before deduction of the preferred share dividends totaling $0.137 per common share), resulting in net investment income after the preferred dividends of $0.397 per common share.
Net realized and unrealized gains for the three months ended May 31, 2008 were $19,275,535 ($1.116 per common share). The Trust’s net realized and unrealized losses for the six months ended May 31, 2008 were $13,638,315 ($0.799 per common share). In comparison, net realized and unrealized losses for the three months ended May 31, 2007 were $6,080,045 ($0.353 per common share). The Trust’s net realized and unrealized losses for the six months ended May 31, 2007 were $6,400,492 ($0.372 per common share).
On May 31, 2008, net assets of the Trust applicable to common shares were $234,492,958. The net asset value per common share on May 31, 2008 was $13.61 based on 17,226,605 common shares outstanding. In comparison, on May 31, 2007, net assets of the Trust applicable to common shares were $266,550,525. The net asset value per common share on May 31, 2007 was $15.51 based on 17,183,449 common shares outstanding.
The Trust is managed by Eaton Vance Management a subsidiary of Eaton Vance Corp, which is listed on the New York Stock Exchange under the symbol EV. Eaton Vance and its affiliates had $156.7 billion in assets under management on June 30, 2008. Eaton Vance Management will make available periodic summary information regarding portfolio investments. Those interested should call Eaton Vance Management at (800) 262-1122.
| EATON VANCE MUNICIPAL INCOME TRUST | ||||||||||||||||
| SUMMARY OF RESULTS OF OPERATIONS | ||||||||||||||||
| (in thousands, except per share amounts) | ||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||
| May 31, | May 31, | |||||||||||||||
| 2008 | 2007 | 2008 | 2007 | |||||||||||||
| Net investment income | $ | 4,722 | $ | 4,508 | $ | 9,847 | $ | 9,163 | ||||||||
|
Net realized and unrealized gains (losses) on investments |
19,276 | (6,080 | ) | (13,638 | ) | (6,400 | ) | |||||||||
| Preferred dividends paid | (1,121 | ) | (1,206 | ) | (2,382 | ) | (2,344 | ) | ||||||||
|
Net increase (decrease) in net assets from operations |
$ | 22,877 | $ | (2,778 | ) | $ | (6,173 | ) | $ | 419 | ||||||
| Earnings per Common Share Outstanding | ||||||||||||||||
| Net investment income | $ | 0.274 | $ | 0.263 | $ | 0.572 | $ | 0.534 | ||||||||
|
Net realized and unrealized gains (losses) on investments |
1.116 | (0.353 | ) | (0.799 | ) | (0.372 | ) | |||||||||
| Preferred dividends paid | (0.065 | ) | (0.071 | ) | (0.138 | ) | (0.137 | ) | ||||||||
|
Net increase (decrease) in net assets from operations |
$ | 1.325 | $ | (0.161 | ) | $ | (0.365 | ) | $ | 0.025 | ||||||
| Net investment income | $ | 0.274 | $ | 0.263 | $ | 0.572 | $ | 0.534 | ||||||||
| Preferred dividends paid | (0.065 | ) | (0.071 | ) | (0.138 | ) | (0.137 | ) | ||||||||
| Net investment income after preferred dividends | $ | 0.209 | $ | 0.192 | $ | 0.434 | $ | 0.397 | ||||||||
| Net Asset Value at May 31 (Common Share) | ||||||||||||||||
| Net assets | $ | 234,493 | $ | 266,551 | ||||||||||||
| Shares outstanding | 17,227 | 17,183 | ||||||||||||||
| Net asset value per share outstanding | $ | 13.61 | $ | 15.51 | ||||||||||||
| Market Value Summary (Common Share) | ||||||||||||||||
| Market price on NYSE at May 31 | $ | 14.06 | $ | 15.75 | ||||||||||||
| High market price (period ended May 31) | $ | 14.59 | $ | 16.25 | ||||||||||||
| Low market price (period ended May 31) | $ | 12.97 | $ | 15.75 | ||||||||||||
Eaton Vance Municipal Income Trust
Investor Contact:
800-262-1122
42.00 (0.46%)
