EATON VANCE PENNSYLVANIA MUNICIPAL BOND BOSTON, Oct. 10, 2014 /PRNewswire/ -- Eaton Vance Pennsylvania Municipal Bond Fund (NYSE MKT: EIP) (the "Fund"), a closed-end management investment company, today announced the earnings of the Fund for the three and nine-month periods ended June 30, 2014. The Fund's fiscal year ends on September 30, 2014.
For the three months ended June 30, 2014, the Fund had net investment income of $614,237 ($0.208 per common share). From this amount, the Fund paid dividends on preferred shares of $7,254 (equal to $0.002 for each common share), resulting in net investment income after the preferred dividends of $606,983, or $0.206 per common share. The Fund's net investment income for the nine months ended June 30, 2014 was $1,855,445 ($0.627 per common share, before deduction of the preferred share dividends totaling $0.006 per common share), resulting in net investment income after the preferred dividends of $0.621 per common share. In comparison, for the three months ended June 30, 2013, the Fund had net investment income of $602,862 ($0.204 per common share). From this amount, the Fund paid dividends on preferred shares of $13,292 (equal to $0.005 for each common share), resulting in net investment income after the preferred dividends of $589,570, or $0.199 per common share. The Fund's net investment income for the nine months ended June 30, 2013 was $1,792,667 ($0.606 per common share, before deduction of the preferred share dividends totaling $0.013 per common share), resulting in net investment income after the preferred dividends of $0.593 per common share.
Net realized and unrealized gains for the three months ended June 30, 2014 were $1,261,952 ($0.424 per common share). The Fund's net realized and unrealized gains for the nine months ended June 30, 2014 were $3,420,778 ($1.156 per common share). In comparison, net realized and unrealized losses for the three months ended June 30, 2013 were $3,274,740 ($1.105 per common share). The Fund's net realized and unrealized losses for the nine months ended June 30, 2013 were $4,023,159 ($1.359 per common share).
On June 30, 2014, net assets of the Fund applicable to common shares were $41,160,186. The net asset value per common share on June 30, 2014 was $13.91 based on 2,959,759 common shares outstanding. In comparison, on June 30, 2013, net assets of the Fund applicable to common shares were $38,725,663. The net asset value per common share on June 30, 2013 was $13.08 based on 2,959,759 common shares outstanding.
The Fund periodically makes certain performance data and 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 $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 PENNSYLVANIA MUNICIPAL BOND FUND
SUMMARY OF RESULTS OF OPERATIONS
(in thousands, except per share amounts)
Three Months Ended Nine Months Ended
June 30, June 30,
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2014 2013 2014 2013
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Net investment income $614 $603 $1,855 $1,793
Net realized and unrealized gains (losses)
on investments 1,262 (3,275) 3,421 (4,023)
Preferred dividends paid from net investment income (8) (14) (19) (38)
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Net increase (decrease) in net assets
from operations $1,868 $(2,686) $5,257 $(2,268)
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Earnings per Common Share Outstanding
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Net investment income $0.208 $0.204 $0.627 $0.606
Net realized and unrealized gains (losses)
on investments 0.424 (1.105) 1.156 (1.359)
Preferred dividends paid from net investment income (0.002) (0.005) (0.006) (0.013)
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Net increase (decrease) in net assets
from operations $0.630 $(0.906) $1.777 $(0.766)
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Net investment income $0.208 $0.204 $0.627 $0.606
Preferred dividends paid from net investment income (0.002) (0.005) (0.006) (0.013)
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Net investment income after preferred dividends $0.206 $0.199 $0.621 $0.593
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Net Asset Value at June 30 (Common Shares)
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Net assets $41,160 $38,726
Shares outstanding 2,960 2,960
Net asset value per share outstanding $13.91 $13.08
Market Value Summary (Common Shares)
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Market price on NYSE MKT at June 30 $13.90 $12.46
High market price (period ended June 30) $13.90 $16.75
Low market price (period ended June 30) $10.99 $12.03
SOURCE Eaton Vance Management
