Eaton Vance Insured Municipal Bond Fund Report of Earnings
December 15 2009 - 11:44AM
PR Newswire (US)
BOSTON, Dec. 15 /PRNewswire-FirstCall/ -- Eaton Vance Insured
Municipal Bond Fund (NYSE Amex: EIM), a closed-end management
investment company, today announced the earnings of the Fund for
the three months ended September 30, 2009 and the year ended
September 30, 2009. The Fund's fiscal year ended on September 30,
2009. For the three months ended September 30, 2009, the Fund had
net investment income of $15,299,014 ($0.226 per common share). For
the year ended September 30, 2009, the Fund had net investment
income of $56,812,789 ($0.846 per common share). In comparison, for
the three months ended September 30, 2008, the Fund had net
investment income of $13,997,295 ($0.216 per common share). From
this amount, the Fund paid dividends on preferred shares of
$228,946 (equal to $0.004 for each common share), resulting in net
investment income after the preferred dividends of $13,768,349 or
$0.212 per common share. For the year ended September 30, 2008, the
Fund had net investment income of $62,117,806 ($0.959 per common
share). From this amount, the Fund paid dividends on preferred
shares of $11,060,870 (equal to $0.171 for each common share),
resulting in net investment income after the preferred dividends of
$51,056,936 or $0.788 per common share. Net realized and unrealized
gains for the three months ended September 30, 2009 were
$145,668,074 ($2.148 per common share) and net realized and
unrealized gains for the year ended September 30, 2009 were
$149,266,685 ($2.051 per common share). In comparison, net realized
and unrealized losses for the three months ended September 30, 2008
were $138,675,065 ($2.135 per common share) and net realized and
unrealized losses for the year ended September 30, 2008 were
$246,310,868 ($3.797 per common share). On September 30, 2009, net
assets of the Fund applicable to common shares were $893,391,134.
The net asset value per common share on September 30, 2009 was
$13.17 based on 67,828,589 common shares outstanding. In
comparison, on September 30, 2008, net assets applicable to common
shares of the Fund were $719,391,966. The net asset value per
common share on September 30, 2008 was $11.08 based on 64,933,679
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 $154.9 billion in assets as of October 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 Year Months Ended September 30,
September 30, ------------- ------------- 2009 2008 2009 2008 ----
---- ---- ---- Net investment income $15,299 $13,997 $56,813
$62,118 Net realized and unrealized gains (losses) on investments
145,668 (138,675) 149,267 (246,311) Preferred dividends paid from
net investment income (1) - (229) - (11,061) Preferred dividends
paid from net realized gains (1) - - - (3,285) --- --- --- ------
Net increase (decrease) in net assets from operations $160,967
$(124,907) $206,080 $(198,539) ======== ========= ========
========= Earnings per Common Share Outstanding
-------------------- Net investment income $0.226 $0.216 $0.846
$0.959 Net realized and unrealized gains (losses) on investments
2.148 (2.135) 2.051 (3.797) Preferred dividends paid from net
investment income (1) - (0.004) - (0.171) Preferred dividends paid
from net realized gains (1) - - - (0.051) --- --- --- ------ Net
increase (decrease) in net assets from operations $2.374 $(1.923)
$2.897 $(3.060) ====== ======= ====== ======= Net investment income
$0.226 $0.216 $0.846 $0.959 Preferred dividends paid from net
investment income (1) - (0.004) - (0.171) --- ------ --- ------ Net
investment income after preferred dividends $0.226 $0.212 $0.846
$0.788 ====== ====== ====== ====== Net Asset Value at March 31
(Common Shares) ---------------------------- Net assets $893,391
$719,392 Shares outstanding 67,829 64,934 Net asset value per share
outstanding $13.17 $11.08 Market Value Summary (Common Shares)
--------------------- Market price on NYSE Amex at September 30
$13.16 $11.14 High market price (period ended September 30) $13.20
$15.53 Low market price (period ended September 30) $6.95 $11.14
(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: Investors, Eaton Vance Management,
+1-800-262-1122 Web Site: http://www.eatonvance.com/
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