Eaton Vance Insured California Municipal Bond Fund II Report of Earnings
June 16 2009 - 4:28PM
PR Newswire (US)
BOSTON, June 16 /PRNewswire-FirstCall/ -- Eaton Vance Insured
California Municipal Bond Fund II (NYSE Amex: EIA) (the "Fund"), a
closed-end management investment company, today announced the
earnings of the Fund for the three and six-month periods ended
March 31, 2009. The Fund's fiscal year ends on September 30, 2009.
For the three months ended March 31, 2009, the Fund had net
investment income of $848,944 ($0.220 per common share). From this
amount, the Fund paid dividends on preferred shares of $51,795
(equal to $0.013 for each common share), resulting in net
investment income after the preferred dividends of $797,149, or
$0.207 per common share. The Fund's net investment income for the
six months ended March 31, 2009 was $1,671,364 ($0.433 per common
share, before deduction of the preferred share dividends totaling
$0.066 per common share), resulting in net investment income after
the preferred dividends of $0.367 per common share. In comparison,
for the three months ended March 31, 2008, the Fund had net
investment income of $939,288 ($0.243 per common share). From this
amount, the Fund paid dividends on preferred shares of $267,407
(equal to $0.070 for each common share), resulting in net
investment income after the preferred dividends of $671,881, or
$0.173 per common share. The Fund's net investment income for the
six months ended March 31, 2008 was $1,897,584 ($0.491 per common
share, before deduction of the preferred share dividends totaling
$0.101 per common share), resulting in net investment income after
the preferred dividends of $0.390 per common share. Net realized
and unrealized gains for the three months ended March 31, 2009 were
$3,274,799 ($0.852 per common share). The Fund's net realized and
unrealized losses for the six months ended March 31, 2009 were
$4,377,327 ($1.128 per common share). In comparison, net realized
and unrealized losses for the three months ended March 31, 2008
were $5,050,265 ($1.307 per common share). The Fund's net realized
and unrealized losses for the six months ended March 31, 2008 were
$7,304,551 ($1.891 per common share). On March 31, 2009, net assets
of the Fund applicable to common shares were $39,380,144. The net
asset value per common share on March 31, 2009 was $10.19 based on
3,864,926 common shares outstanding. In comparison, on March 31,
2008, net assets of the Fund applicable to common shares were
$50,189,878. The net asset value per common share on March 31, 2008
was $12.99 based on 3,863,336 common shares outstanding. The Funds
are 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 $127.2 billion in
assets as of April 30, 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 CALIFORNIA
MUNICIPAL BOND FUND II SUMMARY OF RESULTS OF OPERATIONS (in
thousands, except per share amounts) Three Months Ended Six Months
Ended March 31, March 31, 2009 2008 2009 2008 Net investment income
$849 $939 $1,671 $1,898 Net realized and unrealized gains (losses)
on investments 3,275 (5,050) (4,377) (7,305) Preferred dividends
paid from net investment income (1) (52) (267) (256) (389)
Preferred dividends paid from net realized gains (1) - - - (203)
Net increase (decrease) in net assets from operations $4,072
$(4,378) $(2,962) $(5,999) Earnings per Common Share Outstanding
Net investment income $0.220 $0.243 $0.433 $0.491 Net realized and
unrealized gains (losses) on investments 0.852 (1.307) (1.128)
(1.891) Preferred dividends paid from net investment income (1)
(0.013) (0.070) (0.066) (0.101) Preferred dividends paid from net
realized gains (1) - - - (0.053) Net increase (decrease) in net
assets from operations $1.059 $(1.134) $(0.761) $(1.554) Net
investment income $0.220 $0.243 $0.433 $0.491 Preferred dividends
paid from net investment income (1) (0.013) (0.070) (0.066) (0.101)
Net investment income after preferred dividends (1) $0.207 $0.173
$0.367 $0.390 Net Asset Value at March 31 (Common Shares) Net
assets $39,380 $50,190 Shares outstanding 3,865 3,863 Net asset
value per share outstanding $10.19 $12.99 Market Value Summary
(Common Shares) Market price on NYSE Amex at March 31 $10.38 $13.61
High market price (period ended March 31) $11.75 $14.32 Low market
price (period ended March 31) $6.50 $12.25 (1) During the year
ended September 30, 2008, the Fund made a partial redemption of its
preferred shares. DATASOURCE: Eaton Vance Management CONTACT:
Investors, Eaton Vance Management, +1-800-262-1122 Web Site:
http://www.eatonvance.com/
Copyright