Eaton Vance Insured Pennsylvania Municipal Bond Fund Report of Earnings
March 12 2009 - 3:22PM
PR Newswire (US)
BOSTON, March 12 /PRNewswire-FirstCall/ -- Eaton Vance Insured
Pennsylvania Municipal Bond Fund (NYSE Alternext US: EIP) (the
"Fund"), a closed-end management 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 $683,219 ($0.232 per common share). From
this amount, the Fund paid dividends on preferred shares of
$173,406 (equal to $0.059 for each common share), resulting in net
investment income after the preferred dividends of $509,813, or
$0.173 per common share. In comparison, for the three months ended
December 31, 2007, the Fund had net investment income of $726,674
($0.247 per common share). From this amount, the Fund paid
dividends on preferred shares of $55,884 (equal to $0.019 for each
common share), resulting in net investment income after the
preferred dividends of $670,790, or $0.228 per common share. Net
realized and unrealized losses for the three months ended December
31, 2008 were $6,869,072 ($2.333 per common share). In comparison,
net realized and unrealized losses for the three months ended
December 31, 2007 were $152,907 ($0.052 per common share). On
December 31, 2008, net assets of the Fund applicable to common
shares were $27,690,580. The net asset value per common share on
December 31, 2008 was $9.40 based on 2,944,615 common shares
outstanding. In comparison, on December 31, 2007, net assets of the
Fund applicable to common shares were $44,203,280. The net asset
value per common share on December 31, 2007 was $15.02 based on
2,943,172 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 $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 PENNSYLVANIA
MUNICIPAL BOND FUND SUMMARY OF RESULTS OF OPERATIONS (in thousands,
except per share amounts) Three Months Three Months Ended Ended
December 31, December 31, --------- --------- 2008 2007 ---- ----
Net investment income $683 $727 Net realized and unrealized gains
(losses) on investments (6,869) (153) Preferred dividends paid from
net investment income (1) (173) (56) Preferred dividends paid from
net realized gains (1) (40) (223) --- ---- Net increase (decrease)
in net assets from operations $(6,399) $295 ======= ==== Earnings
per Common Share Outstanding -------------------------------------
Net investment income $0.232 $0.247 Net realized and unrealized
gains (losses) on investments (2.333) (0.052) Preferred dividends
paid from net investment income (1) (0.059) (0.019) Preferred
dividends paid from net realized gains (1) (0.013) (0.076) ------
------ Net increase (decrease) in net assets from operations
$(2.173) $0.100 ======= ====== Net investment income $0.232 $0.247
Preferred dividends paid from net investment income (1) (0.059)
(0.019) ------ ------ Net investment income after preferred
dividends $0.173 $0.228 ====== ====== Net Asset Value at December
31 (Common Shares) ----------------------------------------------
Net assets $27,691 $44,203 Shares outstanding 2,945 2,943 Net asset
value per share outstanding $9.40 $15.02 Market Value Summary
(Common Shares) ------------------------------------ Market price
on NYSE Alternext US at December 31 $8.75 $14.00 High market price
(period ended December 31) $13.55 $14.97 Low market price (period
ended December 31) $7.33 $13.79 (1) During the period ended
December 31, 2008, the Fund made a partial redemption of its
preferred shares. DATASOURCE: Eaton Vance Management CONTACT:
Investors, +1-800-262-1122 Web Site: http://www.eatonvance.com/
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