BOSTON, Sept. 20, 2011 /PRNewswire/ -- Eaton Vance
Limited Duration Income Fund (NYSE Amex: EVV) (the "Fund"), a
closed-end management investment company, today announced the
earnings of the Fund for the three months ended July 31, 2011. The Fund's fiscal year ends
on April 30, 2012.
For the three months ended July 31,
2011, the Fund had net investment income of $33,727,101 ($0.287
per common share). From this amount, the Fund paid dividends
on preferred shares of $110,187
(equal to $0.001 for each common
share), resulting in net investment income after the preferred
dividends of $33,616,914 or
$0.286 per common share. In
comparison, for the three months ended July
31, 2010, the Fund had net investment income of $35,163,362 ($0.300
per common share). From this amount, the Fund paid dividends
on preferred shares of $251,449
(equal to $0.002 for each common
share), resulting in net investment income after the preferred
dividends of $34,911,913 or
$0.298 per common share.
Net realized and unrealized losses for the three months ended
July 31, 2011 were $23,432,617 ($0.200
per common share). In comparison, net realized and unrealized
losses for the three months ended July 31,
2010 were $15,188,472
($0.130 per common share).
On July 31, 2011, net assets of
the Fund applicable to common shares were $1,974,871,064. The net asset value per
common share on July 31, 2011 was
$16.83 based on 117,344,153 common
shares outstanding. In comparison, on July 31, 2010, net assets of the Fund applicable
to common shares were $1,929,157,948.
The net asset value per common share on July 31, 2010 was $16.45 based on 117,285,374 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 calendar quarter-end are also posted to the website
approximately 30 days following quarter-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 $199.0
billion in assets as of July 31,
2011, 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
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SUMMARY OF
RESULTS OF OPERATIONS
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(in
thousands, except per share amounts)
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Three Months
Ended
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Three Months
Ended
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July
31,
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July
31,
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2011
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2010
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Gross investment
income
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$42,017
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$43,418
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Operating expenses
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(5,716)
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(5,179)
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Interest expense
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(2,574)
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(3,076)
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Net investment income
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$33,727
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$35,163
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Net realized and unrealized
gains (losses)
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on investments
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($23,433)
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($15,188)
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Preferred dividends paid from
net investment income
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($110)
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($251)
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Net increase (decrease) in net
assets
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from operations
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$10,184
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$19,724
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Earnings per Common Share
Outstanding
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Gross investment
income
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$0.358
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$0.370
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Operating expenses
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(0.049)
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(0.044)
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Interest expense
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(0.022)
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(0.026)
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Net investment income
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$0.287
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(1)
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$0.300
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(1)
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Net realized and unrealized
gains (losses)
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on investments
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($0.200)
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($0.130)
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Preferred dividends paid from
net investment income
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(0.001)
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(0.002)
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Net increase (decrease) in net
assets
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from operations
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$0.086
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$0.168
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Net investment income
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$0.287
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$0.300
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Preferred dividends paid from
net investment income
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(0.001)
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(0.002)
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Net investment income after
preferred dividends
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$0.286
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$0.298
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Net Asset Value at July 31
(Common Share )
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Net assets (000)
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$1,974,871
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$1,929,158
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Shares outstanding
(000)
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117,344
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117,285
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Net asset value per share
outstanding
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$16.83
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$16.45
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Market Value Summary (Common
Share )
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Market price on NYSE Amex at
July 31
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$16.17
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$16.14
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High market price (three months
ended July 31)
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$16.73
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$16.63
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Low market price (three months
ended July 31)
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$16.00
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$14.88
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(1) For Federal Income Tax
purposes, net investment income per share for the three months
ended July 31, 2011 and July 31, 2010, was $0.314 and $0.327,
respectively.
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SOURCE Eaton Vance Management