Eaton Vance Insured Municipal Bond Fund Report of Earnings
March 12 2009 - 3:46PM
PR Newswire (US)
BOSTON, March 12 /PRNewswire-FirstCall/ -- Eaton Vance Insured
Municipal Bond Fund (NYSE Alternext US: EIM), a closed-end
investment company, today announced the earnings of the Fund for
the three months ended December 31, 2008. The Fund's fiscal year
ends on September 30, 2009. For the three months ended December 31,
2008, the Fund had net investment income of $12,086,169 ($0.185 per
common share). In comparison, for the three months ended December
31, 2007, the Fund had net investment income of $16,521,520 ($0.255
per common share). From this amount, the Fund paid dividends on
preferred shares of $2,847,224 (equal to $0.044 for each common
share), resulting in net investment income after the preferred
dividends of $13,674,296 or $0.211 per common share. Net realized
and unrealized losses for the three months ended December 31, 2008
were $123,359,771 ($1.860 per common share). In comparison, net
realized and unrealized losses for the three months ended December
31, 2007 were $29,212,607 ($0.451 per common share). On December
31, 2008, net assets of the Fund applicable to common shares were
$623,643,295. The net asset value per common share on December 31,
2008 was $9.21 based on 67,681,768 common shares outstanding. In
comparison, on December 31, 2007, net assets of the Fund applicable
to common shares were $933,981,447. The net asset value per common
share on December 31, 2007 was $14.43 based on 64,730,017 common
shares outstanding. 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 $121.9 billion in assets as of January 31, 2009, offering
individuals and institutions a broad array of investment products
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
http://www.eatonvance.com/. EATON VANCE INSURED MUNICIPAL BOND FUND
SUMMARY OF RESULTS OF OPERATIONS (in thousands, except per share
amounts) Three Months Ended Three Months Ended December 31,
December 31, 2008 2007 ---- ---- Net investment income $12,086
$16,522 Net realized and unrealized gains (losses) on investments
(123,360) (29,213) Preferred dividends paid from net investment
income (1) - (2,847) Preferred dividends paid from net realized
gains (1) - (3,324) ------ ----- Net increase (decrease) in net
assets from operations $(111,274) $(18,862) ======= ====== Earnings
per Common Share Outstanding -------------------------------------
Net investment income $0.185 $0.255 Net realized and unrealized
gains (losses) on investments (1.860) (0.451) Preferred dividends
paid from net investment income (1) - (0.044) Preferred dividends
paid from net realized gains (1) - (0.051) ----- ----- Net increase
(decrease) in net assets from operations $(1.675) $(0.291) =====
===== Net investment income $0.185 $0.255 Preferred dividends paid
from net investment income (1) - (0.044) ----- ----- Net investment
income after preferred dividends $0.185 $0.211 ===== ===== Net
Asset Value at December 31 (Common Shares) --------------- Net
assets $623,643 $933,981 Shares outstanding 67,682 64,730 Net asset
value per share outstanding $9.21 $14.43 Market Value Summary
(Common Shares) ------------------------------------ Market price
on NYSE Alternext US at December 31 $8.86 $14.10 High market price
(period ended December 31) $11.20 $15.53 Low market price (period
ended December 31) $6.95 $13.75 (1) Beginning in May 2008 through
August 2008, the Fund redeemed in full each series of its Auction
Preferred Shares. DATASOURCE: Eaton Vance Management CONTACT:
Investor contact of Eaton Vance, +1-800-262-1122 Web Site:
http://www.eatonvance.com/
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