EATON VANCE LIMITED DURATION INCOME FUND BOSTON, Sept. 2, 2014 /PRNewswire/ -- Eaton Vance Limited Duration Income Fund (NYSE MKT: EVV) (the "Fund"), a closed-end management investment company, today announced the earnings of the Fund for the three months ended June 30, 2014. The Fund's fiscal year ends on March 31, 2015.
For the three months ended June 30, 2014, the Fund had net investment income of $30,775,554 ($0.262 per common share). From this amount, the Fund paid dividends on preferred shares of $71,134 (equal to $0.001 for each common share), resulting in net investment income after the preferred dividends of $30,704,420 or $0.261 per common share. In comparison, for the three months ended June 30, 2013, the Fund had net investment income of $29,029,427 ($0.247 per common share). From this amount, the Fund paid dividends on preferred shares of $87,688 (equal to $0.001 for each common share), resulting in net investment income after the preferred dividends of $28,941,739 or $0.246 per common share.
Net realized and unrealized gains for the three months ended June 30, 2014 were $7,777,224 ($0.066 per common share). In comparison, net realized and unrealized losses for the three months ended June 30, 2013 were $54,720,315 ($0.466 per common share).
On June 30, 2014, net assets of the Fund applicable to common shares were $1,953,437,512. The net asset value per common share on June 30, 2014 was $16.62 based on 117,547,018 common shares outstanding. In comparison, on June 30, 2013, net assets of the Fund applicable to common shares were $1,919,845,171. The net asset value per common share on June 30, 2013 was $16.33 based on 117,547,018 common shares outstanding.
The Fund periodically makes performance data and certain information about portfolio characteristics available on www.eatonvance.com (on the fund information page under "Individual Investors - Closed-End Funds"). Fund portfolio holdings for the most recent calendar month-end are also posted to the website approximately 30 days following month-end.
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 $288.2 billion in assets as of July 31, 2014, offering individuals and institutions a broad array of investment strategies 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 LIMITED DURATION INCOME FUND
SUMMARY OF RESULTS OF OPERATIONS
(in thousands, except per share amounts)
Three Months Ended Three Months Ended
June 30, June 30,
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2014 2013
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Gross investment income $39,880 $36,634
Operating expenses (6,520) (5,886)
Interest expense (2,584) (1,719)
------ ------
Net investment income $30,776 $29,029
Net realized and unrealized gains (losses)
on investments $7,777 ($54,720)
Preferred dividends paid from net investment income ($71) ($88)
---- ----
Net increase (decrease) in net assets
from operations $38,482 ($25,779)
Earnings per Common Share Outstanding
-------------------------------------
Gross investment income $0.339 $0.312
Operating expenses (0.055) (0.050)
Interest expense (0.022) (0.015)
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Net investment income $0.262 (1) $0.247 (1)
Net realized and unrealized gains (losses)
on investments $0.066 ($0.466)
Preferred dividends paid from net investment income (0.001) (0.001)
------ ------
Net increase (decrease) in net assets
from operations $0.327 ($0.220)
Net investment income $0.262 $0.247
Preferred dividends paid from net investment income (0.001) (0.001)
------ ------
Net investment income after preferred dividends $0.261 $0.246
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Net Asset Value at June 30 (Common Share)
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Net assets (000) $1,953,438 $1,919,845
Shares outstanding (000) 117,547 117,547
Net asset value per share outstanding $16.62 $16.33
Market Value Summary (Common Share)
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Market price on NYSE MKT at June 30 $15.58 $15.95
High market price (three months
ended June 30) $15.64 $17.67
Low market price (three months ended
June 30) $15.08 $15.22
(1) Estimated net investment income per share, calculated on a federal income tax basis, for the three months ended June 30, 2014 and June 30, 2013, was $0.301 and $0.290,
respectively.
SOURCE Eaton Vance Management
