Eaton Vance California Municipal Bond Fund II Report of Earnings

Sep 08, 2011, 15:33 ET from Eaton Vance Management

BOSTON, Sept. 8, 2011 /PRNewswire/ -- Eaton Vance 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 nine-month periods ended June 30, 2011.  The Fund's fiscal year ends on September 30, 2011.

For the three months ended June 30, 2011, the Fund had net investment income of $810,050 ($0.209 per common share).  From this amount, the Fund paid dividends on preferred shares of $19,967 (equal to $0.005 for each common share), resulting in net investment income after the preferred dividends of $790,083, or $0.204 per common share. The Fund's net investment income for the nine months ended June 30, 2011 was $2,464,397 ($0.636 per common share, before deduction of the preferred share dividends totaling $0.019 per common share), resulting in net investment income after the preferred dividends of $0.617 per common share. In comparison, for the three months ended June 30, 2010, the Fund had net investment income of $867,848 ($0.224 per common share).  From this amount, the Fund paid dividends on preferred shares of $28,215 (equal to $0.007 for each common share), resulting in net investment income after the preferred dividends of $839,633, or $0.217 per common share. The Fund's net investment income for the nine months ended June 30, 2010 was $2,638,972 ($0.682 per common share, before deduction of the preferred share dividends totaling $0.020 per common share), resulting in net investment income after the preferred dividends of $0.662 per common share.

Net realized and unrealized gains for the three months ended June 30, 2011 were $3,535,184 ($0.907 per common share). The Fund's net realized and unrealized losses for the nine months ended June 30, 2011 were $5,530,104 ($1.426 per common share). In comparison, net realized and unrealized losses for the three months ended June 30, 2010 were $321,051 ($0.089 per common share). The Fund's net realized and unrealized losses for the nine months ended June 30, 2010 were $4,517,683 ($1.167 per common share).

On June 30, 2011, net assets of the Fund applicable to common shares were $42,933,207.  The net asset value per common share on June 30, 2011 was $11.07 based on 3,879,458 common shares outstanding.  In comparison, on June 30, 2010, net assets of the Fund applicable to common shares were $45,683,248.  The net asset value per common share on June 30, 2010 was $11.79 based on 3,873,114 common shares outstanding.

The Fund periodically makes certain performance data and information about portfolio characteristics available on www.eatonvance.com (on the fund information page under "Individual Investors – Closed-End Funds").  Fund portfolio holdings for the most recent calendar quarter-end are also posted to the website approximately 30 days following quarter-end.

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 $199.0 billion in assets as of July 31, 2011 offering individuals and institutions a broad array of investment strategies 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 www.eatonvance.com.

EATON VANCE CALIFORNIA MUNICIPAL BOND FUND II

SUMMARY OF RESULTS OF OPERATIONS

(in thousands, except per share amounts)

 Three Months Ended 

Nine Months Ended

 June 30, 

June 30,

2011

2010

2011

2010

Net investment income

$               810

$               868

$            2,464

$            2,639

Net realized and unrealized gains (losses)

 on investments

3,535

(321)

(5,530)

(4,518)

Preferred dividends paid from net investment income

(20)

(28)

(74)

(77)

Net increase (decrease) in net assets

 from operations

$            4,325

$               519

$           (3,140)

$          (1,956)

Earnings per Common Share Outstanding

Net investment income

$            0.209

$            0.224

$            0.636

$            0.682

Net realized and unrealized gains (losses)

 on investments

0.907

(0.089)

(1.426)

(1.167)

Preferred dividends paid from net investment income

(0.005)

(0.007)

(0.019)

(0.020)

Net increase (decrease) in net assets

 from operations

$            1.111

$            0.128

$           (0.809)

$          (0.505)

Net investment income

$            0.209

$            0.224

$            0.636

$            0.682

Preferred dividends paid from net investment income

(0.005)

(0.007)

(0.019)

(0.020)

Net investment income after preferred dividends

$            0.204

$            0.217

$            0.617

$            0.662

Net Asset Value at June 30 (Common Shares)

Net assets

$42,933

$45,683

Shares outstanding

3,879

3,873

Net asset value per share outstanding

$11.07

$11.79

Market Value Summary (Common Shares)

Market price on NYSE Amex at June 30

$11.38

$12.58

High market price (period ended June 30)

$13.18

$12.96

Low market price (period ended June 30)

$10.35

$11.12

SOURCE Eaton Vance Management



RELATED LINKS

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