Eaton Vance Insured Pennsylvania Municipal Bond Fund Report of Earnings
June 16 2009 - 5:13PM
PR Newswire (US)
BOSTON, June 16 /PRNewswire-FirstCall/ -- Eaton Vance Insured
Pennsylvania Municipal Bond Fund (NYSE Amex: EIP) (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 $629,592 ($0.214 per common share). The Fund
paid $0 dividends from net investment income on preferred shares.
The Fund's net investment income for the six months ended March 31,
2009 was $1,312,811 ($0.446 per common share, before deduction of
the preferred share dividends totaling $0.059 per common share),
resulting in net investment income after the preferred dividends of
$0.387 per common share. In comparison, for the three months ended
March 31, 2008, the Fund had net investment income of $732,139
($0.249 per common share). From this amount, the Fund paid
dividends on preferred shares of $210,350 (equal to $0.071 for each
common share), resulting in net investment income after the
preferred dividends of $521,789, or $0.178 per common share. The
Fund's net investment income for the six months ended March 31,
2008 was $1,458,813 ($0.496 per common share, before deduction of
the preferred share dividends totaling $0.090 per common share),
resulting in net investment income after the preferred dividends of
$0.406 per common share. Net realized and unrealized gains for the
three months ended March 31, 2009 were $4,359,590 ($1.480 per
common share). The Fund's net realized and unrealized losses for
the six months ended March 31, 2009 were $2,509,482 ($0.853 per
common share). In comparison, net realized and unrealized losses
for the three months ended March 31, 2008 were $3,486,126 ($1.180
per common share). The Fund's net realized and unrealized losses
for the six months ended March 31, 2008 were $3,639,033 ($1.232 per
common share). On March 31, 2009, net assets of the Fund applicable
to common shares were $32,098,773. The net asset value per common
share on March 31, 2009 was $10.90 based on 2,945,280 common shares
outstanding. In comparison, on March 31, 2008, net assets of the
Fund applicable to common shares were $40,737,750. The net asset
value per common share on March 31, 2008 was $13.84 based on
2,943,645 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 PENNSYLVANIA
MUNICIPAL BOND FUND 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 $630 $732
$1,313 $1,459 Net realized and unrealized gains (losses) on
investments 4,360 (3,486) (2,509) (3,639) Preferred dividends paid
from net investment income (1) - (210) (173) (266) Preferred
dividends paid from net realized gains (1) (61) - (100) (223) ---
--- ---- ---- Net increase (decrease) in net assets from operations
$4,929 $(2,964) $(1,469) $(2,669) ====== ======= ======= =======
Earnings per Common Share Outstanding ------------------------- Net
investment income $0.214 $0.249 $0.446 $0.496 Net realized and
unrealized gains (losses) on investments 1.480 (1.180) (0.853)
(1.232) Preferred dividends paid from net investment income (1) -
(0.071) (0.059) (0.090) Preferred dividends paid from net realized
gains (1) (0.021) - (0.034) (0.076) ------ ------ ------ ------ Net
increase (decrease) in net assets from operations $1.673 $(1.002)
$(0.500) $(0.902) ====== ======= ======= ======= Net investment
income $0.214 $0.249 $0.446 $0.496 Preferred dividends paid from
net investment income (1) - (0.071) (0.059) (0.090) --- ------
------ ------ Net investment income after preferred dividends (1)
$0.214 $0.178 $0.387 $0.406 ====== ====== ====== ====== Net Asset
Value at March 31 (Common Shares) --------------------------- Net
assets $32,099 $40,738 Shares outstanding 2,945 2,944 Net asset
value per share outstanding $10.90 $13.84 Market Value Summary
(Common Shares) -------------------- Market price on NYSE Amex at
March 31 $11.41 $13.85 High market price (period ended March 31)
$13.55 $15.09 Low market price (period ended March 31) $7.33 $13.26
(1) During the period ended March 31, 2009, 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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