EATON VANCE LIMITED DURATION INCOME FUND 
By BOSTON, May 23, 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 and the twelve months ended March 31, 2014.
For the three months ended March 31, 2014, the Fund had net investment income of $28,136,962 ($0.239 per common share). From this amount, the Fund paid dividends on preferred shares of $69,798 (equal to $0.001 for each common share), resulting in net investment income after the preferred dividends of $28,067,164 or $0.238 per common share. For the twelve months ended March 31, 2014, the Fund had net investment income of $119,684,666 ($1.018 per common share). From this amount, the Fund paid dividends on preferred shares of $311,324 (equal to $0.003 for each common share), resulting in net investment income after the preferred dividends of $119,373,342 or $1.015 per common share. In comparison, for the three months ended March 31, 2013, the Fund had net investment income of $21,297,071 ($0.182 per common share). From this amount, the Fund paid dividends on preferred shares of $108,370 (equal to $0.001 for each common share), resulting in net investment income after the preferred dividends of $21,188,701 or $0.181 per common share. For the twelve months ended March 31, 2013, the Fund had net investment income of $122,176,628 ($1.041 per common share). From this amount, the Fund paid dividends on preferred shares of $487,368 (equal to $0.004 for each common share), resulting in net investment income after the preferred dividends of $121,689,260 or $1.037 per common share.
Net realized and unrealized gains for the three months ended March 31, 2014 were $15,345,928 ($0.132 per common share). The Fund's net realized and unrealized losses for the twelve months ended March 31, 2014 were $6,586,842 ($0.055 per common share). In comparison, net realized and unrealized gains for the three months ended March 31, 2013 were $22,606,435 ($0.190 per common share). The Fund's net realized and unrealized gains for the twelve months ended March 31, 2013 were $60,817,449 ($0.516 per common share).
On March 31, 2014, net assets of the Fund applicable to common shares were $1,950,819,462. The net asset value per common share on March 31, 2014 was $16.60 based on 117,547,018 common shares outstanding. In comparison, on March 31, 2013, net assets of the Fund applicable to common shares were $1,980,817,489. The net asset value per common share on March 31, 2013 was $16.86 based on 117,507,664 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 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 $285.9 billion in assets as of April 30, 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 Twelve Months Ended
March 31, March 31,
--------- ---------
2014 2013 2014 2013
---- ---- ---- ----
Gross investment income $37,013 $29,098 $152,895 $153,452
Operating expenses (6,378) (5,644) (24,651) (22,610)
Interest expense (2,498) (2,157) (8,559) (8,665)
------ ------ ------ ------
Net investment income $28,137 $21,297 $119,685 $122,177
Net realized and unrealized gains (losses)
on investments $15,346 $22,606 ($6,587) $60,817
Preferred dividends paid from net investment income (70) (108) (311) (487)
Net increase (decrease) in net assets
from operations $43,413 $43,795 $112,787 $182,507
======= ======= ======== ========
Earnings per Common Share Outstanding
-------------------------------------
Gross investment income $0.315 $0.248 $1.301 $1.307
Operating expenses (0.055) (0.047) (0.210) (0.192)
Interest expense (0.021) (0.019) (0.073) (0.074)
------ ------ ------ ------
Net investment income $0.239 $0.182 $1.018 (1) $1.041 (1)
Net realized and unrealized gains (losses)
on investments $0.132 $0.190 ($0.055) $0.516
Preferred dividends paid from net investment income (0.001) (0.001) (0.003) (0.004)
------ ------ ------ ------
Net increase (decrease) in net assets
from operations $0.370 $0.371 $0.960 $1.553
====== ====== ====== ======
Net investment income $0.239 $0.182 $1.018 $1.041
Preferred dividends paid from net investment income (0.001) (0.001) (0.003) (0.004)
------ ------ ------ ------
Net investment income after preferred dividends $0.238 $0.181 $1.015 $1.037
====== ====== ====== ======
Net Asset Value at March 31 (Common Share)
-----------------------------------------
Net assets (000) $1,950,819 $1,980,817
Shares outstanding (000) 117,547 117,508
Net asset value per share outstanding $16.60 $16.86
Market Value Summary (Common Share)
----------------------------------
Market price on NYSE MKT at March 31 $15.25 $17.10
High market price (Year ended March 31) $17.67 $17.50
Low market price (Year ended March 31) $14.50 $15.69
(1) Estimated net
investment income per
share, calculated on a
federal income tax
basis, for the twelve
months ended March 31,
2014 and March 31, 2013,
was $1.184 and $1.199,
respectively.
SOURCE Eaton Vance Management
