Eaton Vance Senior Income Trust Report of Earnings
Wed Aug 12, 2:13 PM
BOSTON, Aug. 12 /PRNewswire-FirstCall/ -- Eaton Vance Senior Income Trust (NYSE: EVF) (the "Trust"), a closed-end management investment company, today announced the earnings of the Trust for the three months and for the year ended June 30, 2009. The Trust's fiscal year ended on June 30, 2009.
For the three months ended June 30, 2009, the Trust had net investment income of $3,208,411 ($0.087 per common share). From this amount, the Trust paid dividends on preferred shares of $64,182 (equal to $0.001 for each common share), resulting in net investment income after the preferred dividends of $3,144,229 or $0.086 per common share. For the year ended June 30, 2009, the Trust had net investment income of $17,975,898 ($0.492 per common share). From this amount, the Trust paid dividends on preferred shares of $1,216,911 (equal to $0.033 for each common share), resulting in net investment income after the preferred dividends of $16,758,987 or $0.459 per common share. In comparison, for the three months ended June 30, 2008, the Trust had net investment income of $5,442,676 ($0.150 per common share). From this amount, the Trust paid dividends on preferred shares of $744,686 (equal to $0.021 for each common share), resulting in net investment income after the preferred dividends of $4,697,990 or $0.129 per common share. For the year ended June 30, 2008, the Trust had net investment income of $27,044,311 ($0.742 per common share). From this amount, the Trust paid dividends on preferred shares of $4,841,699 (equal to $0.133 for each common share), resulting in net investment income after the preferred dividends of $22,202,612 or $0.609 per common share.
Net realized and unrealized gains for the three months ended June 30, 2009 were $50,788,660 ($1.393 per common share) and net realized and unrealized losses for the year ended June 30, 2009 were $73,467,293 ($2.012 per common share). In comparison, net realized and unrealized gains for the three months ended June 30, 2008 were $13,376,635 ($0.363 per common share). The Trust's net realized and unrealized losses for the year ended June 30, 2008 were $48,142,664 ($1.324 per common share).
On June 30, 2009, net assets of the Trust applicable to common shares were $200,182,502. The net asset value per common share on June 30, 2009 was $5.48 based on 36,540,034 common shares outstanding. In comparison, on June 30, 2008, net assets of the Trust applicable to common shares were $272,940,512. The net asset value per common share on June 30, 2008 was $7.48 based on 36,466,497 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 $136.3 billion in assets as of June 30, 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 SENIOR INCOME TRUST
SUMMARY OF RESULTS OF OPERATIONS
(in thousands, except per share amounts)
Three Months Ended Year Ended
June 30, June 30,
-------- --------
2009 2008 2009 2008
---- ---- ---- ----
Gross investment income $4,457 $7,806 $24,341 $38,905
Interest expense (196) (969) (1,848) (5,568)
Operating expenses (1,053) (1,394) (4,517) (6,293)
------ ------ ------ ------
Net investment income $3,208 $5,443 $17,976 $27,044
Net realized and unrealized gains
(losses) on investments $50,789 $13,377 ($73,467) ($48,142)
Preferred dividends paid from
net investment income ($64) ($745) ($1,217) ($4,842)
---- ----- ------- -------
Net increase (decrease) in net
assets from operations $53,933 $18,075 ($56,708) ($25,940)
======= ======= ======== ========
Earnings per Common Share Outstanding
-------------------------------------
Gross investment income $0.122 $0.215 $0.667 $1.068
Interest expense (0.006) (0.027) (0.051) (0.153)
Operating expenses (0.029) (0.038) (0.124) (0.173)
------ ------ ------ ------
Net investment income $0.087 $0.150 $0.492 $0.742
Net realized and unrealized gains
(losses) on investments $1.393 $0.363 ($2.012) ($1.324)
Preferred dividends paid from
net investment income (0.001) (0.021) (0.033) (0.133)
------ ------ ------ ------
Net increase (decrease) in net
assets from operations $1.479 $0.492 ($1.553) ($0.715)
====== ====== ======= =======
Net investment income $0.087 $0.150 $0.492 $0.742
Preferred dividends paid from
net investment income (0.001) (0.021) (0.033) (0.133)
------ ------ ------ ------
Net investment income after
preferred dividends $0.086 $0.129 $0.459 $0.609
====== ====== ====== ======
Net Asset Value at June 30 (Common Share )
------------------------------------------
Net assets (000) $200,183 $272,941
Shares outstanding (000) 36,540 36,466
Net asset value per share outstanding $5.48 $7.48
Market Value Summary (Common Share )
------------------------------------
Market price on NYSE at June 30 $4.69 $6.62
High market price (year ended June 30) $6.64 $8.62
Low market price (year ended June 30) $2.89 $6.26
SOURCE Eaton Vance Management
