Eaton Vance Ohio Municipal Income Trust Report Of Earnings
Thu Nov 19, 12:39 PM
BOSTON, Nov. 19 /PRNewswire-FirstCall/ -- Eaton Vance Ohio Municipal Income Trust (NYSE Amex: EVO) (the "Trust"), a closed-end management investment company, today announced the earnings of the Trust for the three and nine-month periods ended August 31, 2009. The Trust's fiscal year ends on November 30, 2009.
For the three months ended August 31, 2009, the Trust had net investment income of $668,607 ($0.236 per common share). From this amount, the Trust paid dividends on preferred shares of $28,536 (equal to $0.010 for each common share), resulting in net investment income after the preferred dividends of $640,071, or $0.226 per common share. The Trust's net investment income for the nine months ended August 31, 2009 was $2,031,805 ($0.718 per common share, before deduction of the preferred share dividends totaling $0.046 per common share), resulting in net investment income after the preferred dividends of $0.672 per common share. In comparison, for the three months ended August 31, 2008, the Trust had net investment income of $684,832 ($0.242 per common share). From this amount, the Trust paid dividends on preferred shares of $162,480 (equal to $0.058 for each common share), resulting in net investment income after the preferred dividends of $522,352, or $0.184 per common share. The Trust's net investment income for the nine months ended August 31, 2008 was $2,046,207 ($0.723 per common share, before deduction of the preferred share dividends totaling $0.210 per common share), resulting in net investment income after the preferred dividends of $0.513 per common share.
Net realized and unrealized gains for the three months ended August 31, 2009 were $1,044,241 ($0.368 per common share). The Trust's net realized and unrealized gains for the nine months ended August 31, 2009 were $6,756,176 ($2.388 per common share). In comparison, net realized and unrealized losses for the three months ended August 31, 2008 were $1,504,448 ($0.529 per common share). The Trust's net realized and unrealized losses for the nine months ended August 31, 2008 were $3,541,635 ($1.252 per common share).
On August 31, 2009, net assets of the Trust applicable to common shares were $36,630,387. The net asset value per common share on August 31, 2009 was $12.94 based on 2,831,387 common shares outstanding. In comparison, on August 31, 2008, net assets of the Trust applicable to common shares were $38,559,916. The net asset value per common share on August 31, 2008 was $13.63 based on 2,829,304 common shares outstanding.
The Trust 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 $157.0 billion in assets as of September 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 OHIO MUNICIPAL INCOME TRUST
SUMMARY OF RESULTS OF OPERATIONS
(in thousands, except per share amounts)
Three Months Nine Months
Ended Ended
August 31, August 31,
---------- ----------
2009 2008 2009 2008
---- ---- ---- ----
Net investment income $669 $685 $2,032 $2,046
Net realized and unrealized gains
(losses) on investments 1,044 (1,504) 6,756 (3,541)
Preferred dividends paid from net
investment income (1) (29) (162) (129) (593)
--- ---- ---- ----
Net increase (decrease) in net assets
from operations $1,684 $(981) $8,659 $(2,088)
====== ===== ====== =======
Earnings per Common Share Outstanding
-------------------------------------
Net investment income $0.236 $0.242 $0.718 $0.723
Net realized and unrealized gains
(losses) on investments 0.368 (0.529) 2.388 (1.252)
Preferred dividends paid from net
investment income (1) (0.010) (0.058) (0.046) (0.210)
------ ------ ------ ------
Net increase (decrease) in net assets
from operations $0.594 $(0.345) $3.060 $(0.739)
====== ======= ====== =======
Net investment income $0.236 $0.242 $0.718 $0.723
Preferred dividends paid from net
investment income (1) (0.010) (0.058) (0.046) (0.210)
------ ------ ------ ------
Net investment income after preferred
dividends $0.226 $0.184 $0.672 $0.513
====== ====== ====== ======
Net Asset Value at August 31 (Common Shares)
--------------------------------------------
Net assets $36,630 $38,560
Shares outstanding 2,831 2,829
Net asset value per share outstanding $12.94 $13.63
Market Value Summary (Common Shares)
------------------------------------
Market price on NYSE Amex at August 31 $12.70 $12.20
High market price (period ended August 31) $13.00 $13.73
Low market price (period ended August 31) $7.63 $12.09
(1) During the nine months ended August 31, 2009 and the year ended
November 30, 2008, the Trust made a partial redemption of its preferred
shares.
SOURCE Eaton Vance Management
158.94 (1.43%)
