Eaton Vance Enhanced Equity Income Fund II Report of Earnings

Dec 23, 2010, 14:33 ET from Eaton Vance Management

BOSTON, Dec. 23, 2010 /PRNewswire-FirstCall/ -- Eaton Vance Enhanced Equity Income Fund II (NYSE: EOS), a diversified closed-end investment company, today announced the earnings of the Fund for the three and nine-month periods ended September 30, 2010.  The Fund's fiscal year ends on December 31, 2010.

For the three months ended September 30, 2010, the Fund had net investment income of $558,299 ($0.011 per common share).  For the nine months ended September 30, 2010, the Fund had net investment income of $2,177,051 ($0.045 per common share).  In comparison, for the three months ended September 30, 2009, the Fund had net investment income of $930,108 ($0.019 per common share).  For the nine months ended September 30, 2009, the Fund had net investment income of $3,518,080 ($0.073 per common share).  

Net realized and unrealized gains for the three months ended September 30, 2010 were $47,151,244 ($0.984 per common share) and net realized and unrealized gains for the nine months ended September 30, 2010 were $14,006,233 ($0.290 per common share). In comparison, net realized and unrealized gains for the three months ended September 30, 2009 were $62,195,506 ($1.292 per common share) and net realized and unrealized gains for the nine months ended September 30, 2009 were $88,260,988 ($1.842 per common share).

On September 30, 2010, net assets of the Fund were $594,857,092.  The net asset value per common share on September 30, 2010 was $12.29 based on 48,403,104 common shares outstanding.  In comparison, on September 30, 2009, net assets of the Fund were $610,166,229.  The net asset value per common share on September 30, 2009 was $12.70 based on 48,044,912 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 $185.2 billion in assets as of October 31, 2010, 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 ENHANCED EQUITY INCOME FUND II

SUMMARY OF RESULTS OF OPERATIONS

(in thousands, except per share amounts)

Three Months Ended

Nine Months Ended

September 30,

September 30,

2010

2009

2010

2009

Gross investment income

$   2,241

$   2,705

$     7,348

$     8,357

Operating expenses

(1,683)

(1,775)

(5,171)

(4,839)

Net investment income

$      558

$      930

$     2,177

$     3,518

Net realized and unrealized gains (losses)

 on investments

$ 47,151

$ 62,196

$   14,006

$   88,261

Net increase (decrease) in net assets

 from operations

$ 47,709

$ 63,126

$   16,183

$   91,779

Earnings per Common Share Outstanding

Gross investment income

$   0.046

$   0.056

$     0.152

$     0.174

Operating expenses

(0.035)

(0.037)

(0.107)

(0.101)

Net investment income

$   0.011

$   0.019

$     0.045

$     0.073

Net realized and unrealized gains (losses)

 on investments

$   0.984

$   1.292

$     0.290

$     1.842

Net increase (decrease) in net assets

 from operations

$   0.995

$   1.311

$     0.335

$     1.915

Net Asset Value at September 30 (Common Shares)

Net assets  

$ 594,857

$ 610,166

Shares outstanding

48,403

48,045

Net asset value per share outstanding

$     12.29

$     12.70

Market Value Summary (Common Shares)

Market price on NYSE at September 30

$     12.93

$     13.23

High market price (period ended September 30)

$     14.67

$     14.38

Low market price (period ended September 30)

$     11.72

$       7.59

SOURCE Eaton Vance Management



RELATED LINKS

http://www.eatonvance.com