Eaton Vance Municipal Income Trust Announces Earnings Results for the Three Months and Year Ended November 30, 2014
March 17, 2015 at 04:01 pm
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Eaton Vance Municipal Income Trust announced earnings results for the three months and year ended November 30, 2014. For the three months ended November 30, 2014, the Trust had net investment income of $5,156,095 or $0.217 per common share. From this amount, the Trust paid dividends on preferred shares of $30,647 or equal to $0.001 for each common share, resulting in net investment income after the preferred dividends of $5,125,448, or $0.216 per common share. In comparison, for the three months ended November 30, 2013, the Trust had net investment income of $5,065,267 or $0.221 per common share. From this amount, the Trust paid dividends on preferred shares of $36,070 or equal to $0.002 for each common share, resulting in net investment income after the preferred dividends of $5,029,197, or $0.219 per common share. Net realized and unrealized gains for the three months ended November 30, 2014 were $7,644,038 or $0.321 per common share. In comparison, net realized and unrealized gains for the three months ended November 30, 2013 were $13,591,523 or $0.592 per common share.
The Trust's net investment income for the year ended November 30, 2014 was $20,881,621 or $0.886 per common share, before deduction of the preferred share dividends totaling $0.005 per common share, resulting in net investment income after the preferred dividends of $0.881 per common share. The Trust's net investment income for the year ended November 30, 2013 was $20,264,886 or $0.885 per common share, before deduction of the preferred share dividends totaling $0.009 per common share, resulting in net investment income after the preferred dividends of $0.876 per common share. The Trust's net realized and unrealized gains for the year ended November 30, 2014 were $57,072,977 or $2.423 per common share. The Trust's net realized and unrealized losses for the year ended November 30, 2013 were $63,312,304 or $2.778 per common share. The net asset value per common share on November 30, 2014 was $12.95 based on 23,703,711 common shares outstanding. In comparison, on November 30, 2013, net asset value per common share on November 30, 2013 was $10.54 based on 23,362,186 common shares outstanding.
Eaton Vance Municipal Income Trust (the Fund) is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income exempt from regular federal income tax. During normal market conditions, substantially all of the Fund's total assets (at least 80%) will be invested in debt obligations issued by or on behalf of states, territories and possessions of the United States, and the District of Columbia and their political subdivisions, agencies or instrumentalities, the interest on which is exempt from regular federal income tax (municipal obligations). At least 65% of the Fund's total assets will normally be invested in municipal obligations rated at least investment grade at the time of investment, or, if unrated, determined by Eaton Vance Management (EVM) to be of at least investment grade quality. The Fund invests in various sectors, such as education, hospital, electric utilities and housing. The Fund's investment adviser is EVM.