BOSTON, Nov. 3, 2011 /PRNewswire/ -- Eaton Vance
Municipal Income Trust (NYSE: EVN) (the "Trust"), a diversified
closed-end management investment company, today announced the
earnings of the Trust for the three and nine-month periods ended
August 31, 2011. The Trust's
fiscal year ends on November 30,
2011.
For the three months ended August 31,
2011, the Trust had net investment income of $5,583,330 ($0.246
per common share). From this amount, the Trust paid dividends
on preferred shares of $61,849 (equal
to $0.002 for each common share),
resulting in net investment income after the preferred dividends of
$5,521,481 or $0.244 per common share. The Trust's net
investment income for the nine months ended August 31, 2011 was $17,369,994 ($0.766
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
$0.753 per common share. In
comparison, for the three months ended August 31, 2010, the Trust had net investment
income of $5,954,066 ($0.264 per common share). From this amount,
the Trust paid dividends on preferred shares of $126,286 (equal to $0.006 for each common share), resulting in net
investment income after the preferred dividends of $5,827,780, or $0.258 per common share. The Trust's net
investment income for the nine months ended August 31, 2010 was $17,520,896 ($0.777
per common share, before deduction of the preferred share dividends
totaling $0.016 per common share),
resulting in net investment income after the preferred dividends of
$0.761 per common share.
Net realized and unrealized gains for the three months ended
August 31, 2011 were $6,427,628 ($0.284
per common share). The Trust's net realized and unrealized losses
for the nine months ended August 31,
2011 were $7,036,147
($0.310 per common share). In
comparison, net realized and unrealized gains for the three months
ended August 31, 2010 were
$11,735,751 ($0.520 per common share). The Trust's net
realized and unrealized gains for the nine months ended
August 31, 2010 were $26,490,399 ($1.175
per common share).
On August 31, 2011, net assets of
the Trust applicable to common shares were $245,018,516. The net asset value per
common share on August 31, 2011 was
$10.77 based on 22,742,127 common
shares outstanding. In comparison, on August 31, 2010, net assets of the Trust
applicable to common shares were $272,815,665. The net asset value per common
share on August 31, 2010 was
$12.07 based on 22,601,240 common
shares outstanding.
The Trust 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"). Trust portfolio holdings for
the most recent calendar quarter-end are also posted to the website
approximately 30 days following quarter-end.
The Trust 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 $177.8 billion
in assets as of September 30, 2011,
offering individuals and institutions a broad array of investment
strategies and wealth management solutions. The Company's long
record of providing exemplary service and attractive returns
through a variety of market conditions has made Eaton Vance the
investment manager of choice for many of today's most discerning
investors. For more information about Eaton Vance, visit
www.eatonvance.com.
EATON VANCE
MUNICIPAL INCOME TRUST
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SUMMARY OF
RESULTS OF OPERATIONS
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(in
thousands, except per share amounts)
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Three Months
Ended
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Nine Months
Ended
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August
31,
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August
31,
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2011
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2010
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2011
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2010
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Net investment income
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$ 5,583
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$ 5,954
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$ 17,370
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$ 17,521
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Net realized and unrealized
gains (losses)
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on investments
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6,428
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11,735
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(7,036)
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26,490
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Preferred dividends paid from
net investment income
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(62)
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(126)
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(303)
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(360)
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Net increase (decrease) in net
assets
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from operations
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$ 11,949
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$ 17,563
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$ 10,031
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$ 43,651
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Earnings per Common Share
Outstanding
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Net investment income
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$ 0.246
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$ 0.264
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$ 0.766
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$ 0.777
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Net realized and unrealized
gains (losses)
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on investments
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0.284
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0.520
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(0.310)
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1.175
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Preferred dividends paid from
net investment income
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(0.002)
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(0.006)
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(0.013)
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(0.016)
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Net increase (decrease) in net
assets
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from operations
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$ 0.528
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$ 0.778
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$ 0.443
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$ 1.936
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Net investment income
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$ 0.246
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$ 0.264
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$ 0.766
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$ 0.777
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Preferred dividends paid from
net investment income
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(0.002)
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(0.006)
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(0.013)
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(0.016)
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Net investment income after
preferred dividends
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$ 0.244
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$ 0.258
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$ 0.753
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$ 0.761
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Net Asset Value at August 31
(Common Shares)
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Net assets
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$245,019
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$272,816
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Shares outstanding
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22,742
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22,601
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Net asset value per share
outstanding
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$10.77
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$12.07
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Market Value Summary (Common
Shares)
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Market price on NYSE at August
31
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$11.91
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$13.07
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High market price (period ended
August 31)
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$12.44
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$13.07
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Low market price (period ended
August 31)
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$10.52
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$11.46
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SOURCE Eaton Vance Management