Eaton Vance Municipal Income Trust Report of Earnings
Tue May 13, 11:36 AMBOSTON--(BUSINESS WIRE)--Eaton Vance Municipal Income Trust (AMEX: EVN) (the “Trust”), a closed-end management investment company, today announced the earnings of the Trust for the three months ended February 29, 2008. The Trust’s fiscal year ends on November 30, 2008.
For the three months ended February 29, 2008, the Trust had net investment income of $5,125,188 ($0.298 per common share). From this amount, the Trust paid dividends on preferred shares of $1,261,049 (equal to $0.073 for each common share), resulting in net investment income after the preferred dividends of $3,864,139 or $0.225 per common share. In comparison, for the three months ended February 28, 2007, the Trust had net investment income of $4,655,303 ($0.271 per common share). From this amount, the Trust paid dividends on preferred shares of $1,138,269 (equal to $0.066 for each common share), resulting in net investment income after the preferred dividends of $3,517,034 or $0.205 per common share.
Net realized and unrealized losses for the three months ended February 29, 2008 were $32,913,850 ($1.915 per common share). In comparison, net realized and unrealized losses for the three months ended February 28, 2007 were $320,447 ($0.019 per common share).
On February 29, 2008, net assets of the Trust applicable to common shares were $214,646,127. The net asset value per common share on February 29, 2008 was $12.48 based on 17,198,801 common shares outstanding. In comparison, on February 28, 2007, net assets of the Trust applicable to common shares were $272,398,138. The net asset value per common share on February 28, 2007 was $15.87 based on 17,163,239 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 $150.9 billion in assets under management on March 31, 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 | Three Months Ended | |||||||
| February 29, | February 28, | |||||||
| 2008 | 2007 | |||||||
| Net investment income | $ | 5,125 | $ | 4,655 | ||||
| Net realized and unrealized gains (losses) on investments | ||||||||
| ($32,914 | ) | ($320 | ) | |||||
| Preferred dividends paid from net investment income | ($1,261 | ) | ($1,138 | ) | ||||
| Net increase (decrease) in net assets from operations | ||||||||
| ($29,050 | ) | $ | 3,197 | |||||
|
Earnings per Common Share Outstanding |
||||||||
| Net investment income | $ | 0.298 | $ | 0.271 | ||||
| Net realized and unrealized gains (losses) on investments | ||||||||
| ($1.915 | ) | ($0.019 | ) | |||||
| Preferred dividends paid from net investment income | ($0.073 | ) | ($0.066 | ) | ||||
| Net increase (decrease) in net assets from operations | ||||||||
| ($1.690 | ) | $ | 0.186 | |||||
| Net investment income | $ | 0.298 | $ | 0.271 | ||||
| Preferred dividends paid from net investment income | ($0.073 | ) | ($0.066 | ) | ||||
| Net investment income after preferred dividends | $ | 0.225 | $ | 0.205 | ||||
|
Net Asset Value at February 29 (Common Shares) |
||||||||
| Net assets (000) | $ | 214,646 | $ | 272,398 | ||||
| Shares outstanding (000) | 17,199 | 17,163 | ||||||
| Net asset value per share outstanding | $ | 12.48 | $ | 15.87 | ||||
|
Market Value Summary (Common Shares) |
||||||||
| Market price on AMEX at February 29 | $ | 13.14 | $ | 16.03 | ||||
| High market price (period ended February 29) | $ | 14.59 | $ | 16.14 | ||||
| Low market price (period ended February 29) | $ | 13.14 | $ | 15.80 | ||||
Eaton Vance Municipal Income Trust
Investor Contact: 800-262-1122
107.37 (1.18%)