BOSTON, Jan. 31, 2012 /PRNewswire/ -- Eaton Vance
California Municipal Income Trust (NYSE Amex: CEV) (the "Trust"), a
closed-end management investment company, today announced the
earnings of the Trust for the three months and year ended
November 30, 2011. The Trust's
fiscal year ended on November 30,
2011.
For the three months ended November 30,
2011, the Trust had net investment income of $1,564,336 ($0.217
per common share). From this amount, the Trust paid dividends
on preferred shares of $28,952 (equal
to $0.004 for each common share),
resulting in net investment income after the preferred dividends of
$1,535,384, or $0.213 per common share. The Trust's net
investment income for the year ended November 30, 2011 was $6,690,748 ($0.926
per common share, before deduction of the preferred share dividends
totaling $0.022 per common share),
resulting in net investment income after the preferred dividends of
$0.904 per common share. In
comparison, for the three months ended November 30, 2010, the Trust had net investment
income of $1,664,731 ($0.231 per common share). From this amount,
the Trust paid dividends on preferred shares of $53,779 (equal to $0.007 for each common share), resulting in net
investment income after the preferred dividends of $1,610,952, or $0.224 per common share. The Trust's net
investment income for the year ended November 30, 2010 was $6,802,191 ($0.945
per common share, before deduction of the preferred share dividends
totaling $0.028 per common share),
resulting in net investment income after the preferred dividends of
$0.917 per common share.
Net realized and unrealized gains for the three months ended
November 30, 2011 were $952,161 ($0.130
per common share). The Trust's net realized and unrealized gains
for the year ended November 30, 2011
were $28,169 ($0.002 per common share). In comparison, net
realized and unrealized losses for the three months ended
November 30, 2010 were $7,546,408 ($1.043
per common share). The Trust's net realized and unrealized gains
for the year ended November 30, 2010
were $149,760 ($0.026 per common share).
On November 30, 2011, net assets
of the Trust applicable to common shares were $89,861,706. The net asset value per common
share on November 30, 2011 was
$12.41 based on 7,243,893 common
shares outstanding. In comparison, on November 30, 2010, net assets of the Trust
applicable to common shares were $89,395,119. The net asset value per common
share on November 30, 2010 was
$12.39 based on 7,217,856 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 $184.5 billion
in assets as of December 31, 2011,
offering individuals and institutions a broad array of investment
strategies and wealth management solutions. The Company's long
record of providing exemplary service and attractive returns
through a variety of market conditions has made Eaton Vance the
investment manager of choice for many of today's most discerning
investors. For more information about Eaton Vance, visit
www.eatonvance.com.
EATON VANCE
CALIFORNIA MUNICIPAL INCOME TRUST
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SUMMARY OF
RESULTS OF OPERATIONS
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(in
thousands, except per share amounts)
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Three Months
Ended
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Year
Ended
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November
30,
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November 30,
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2011
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2010
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2011
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2010
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Net investment income
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$
1,564
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$
1,665
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$
6,691
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$
6,802
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Net realized and unrealized
gains (losses)
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on investments
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952
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(7,546)
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28
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150
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Preferred dividends paid from
net investment income
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(29)
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(54)
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(157)
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(204)
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Net increase (decrease) in net
assets
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from operations
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$
2,487
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$
(5,935)
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$
6,562
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$
6,748
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Earnings per Common Share
Outstanding
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Net investment income
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$
0.217
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$
0.231
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$
0.926
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$
0.945
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Net realized and unrealized
gains (losses)
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on investments
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0.130
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(1.043)
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0.002
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0.026
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Preferred dividends paid from
net investment income
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(0.004)
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(0.007)
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(0.022)
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(0.028)
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Net increase (decrease) in net
assets
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from operations
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$
0.343
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$
(0.819)
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$
0.906
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$
0.943
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Net investment income
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$
0.217
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$
0.231
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$
0.926
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$
0.945
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Preferred dividends paid from
net investment income
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(0.004)
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(0.007)
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(0.022)
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(0.028)
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Net investment income after
preferred dividends
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$
0.213
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$
0.224
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$
0.904
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$
0.917
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Net Asset Value at November 30
(Common Shares)
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Net assets
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$89,862
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$89,395
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Shares outstanding
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7,244
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7,218
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Net asset value per share
outstanding
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$12.41
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$12.39
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Market Value Summary (Common
Shares)
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Market price on NYSE Amex at
November 30
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$12.77
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$12.40
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High market price (period ended
November 30)
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$13.02
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$13.69
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Low market price (period ended
November 30)
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$10.80
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$11.79
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SOURCE Eaton Vance Management