Eaton Vance Enhanced Equity Income Fund II Report of Earnings

Sep 09, 2011, 11:54 ET from Eaton Vance Management

BOSTON, Sept. 9, 2011 /PRNewswire/ -- 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 six-month periods ended June 30, 2011.  The Fund's fiscal year ends on December 31, 2011.

For the three months ended June 30, 2011, the Fund had net investment income of $927,129 ($0.019 per common share).  For the six months ended June 30, 2011, the Fund had net investment income of $893,403 ($0.018 per common share).  In comparison, for the three months ended June 30, 2010, the Fund had net investment income of $980,877 ($0.020 per common share).  For the six months ended June 30, 2010, the Fund had net investment income of $1,618,752 ($0.034 per common share).  

Net realized and unrealized gains for the three months ended June 30, 2011 were $1,676,557 ($0.037 per common share) and net realized and unrealized gains for the six months ended June 30, 2011 were $29,197,998 ($0.605 per common share). In comparison, net realized and unrealized losses for the three months ended June 30, 2010 were $59,183,123 ($1.234 per common share) and net realized and unrealized losses for the six months ended June 30, 2010 were $33,145,011 ($0.694 per common share).

On June 30, 2011, net assets of the Fund were $625,338,117.  The net asset value per common share on June 30, 2011 was $12.90 based on 48,492,823 common shares outstanding.  In comparison, on June 30, 2010, net assets of the Fund were $563,817,979.  The net asset value per common share on June 30, 2010 was $11.66 based on 48,340,447 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 ENHANCED EQUITY INCOME FUND II

SUMMARY OF RESULTS OF OPERATIONS

(in thousands, except per share amounts)

 Three Months Ended 

 Six Months Ended 

 June 30, 

 June 30, 

2011

2010

2011

2010

Gross investment income

$                       2,703

$                       2,715

$                       4,445

$                       5,107

Operating expenses

(1,776)

(1,734)

(3,552)

(3,488)

Net investment income

$                          927

$                          981

$                          893

$                       1,619

Net realized and unrealized gains (losses)

 on investments

$                       1,677

$                   (59,183)

$                     29,198

$                   (33,145)

Net increase (decrease) in net assets

 from operations

$                       2,604

$                   (58,202)

$                     30,091

$                   (31,526)

Earnings per Common Share Outstanding

Gross investment income

$                       0.055

$                       0.056

$                       0.091

$                       0.106

Operating expenses

(0.036)

(0.036)

(0.073)

(0.072)

Net investment income

$                       0.019

$                       0.020

$                       0.018

$                       0.034

Net realized and unrealized gains (losses)

 on investments

$                       0.037

$                     (1.234)

$                       0.605

$                     (0.694)

Net increase (decrease) in net assets

 from operations

$                       0.056

$                     (1.214)

$                       0.623

$                     (0.660)

Net Asset Value at June 30 (Common Shares)

Net assets  

$                   625,338

$                   563,818

Shares outstanding

48,493

48,340

Net asset value per share outstanding

$                       12.90

$                       11.66

Market Value Summary (Common Shares)

Market price on NYSE at June 30

$                       11.79

$                       12.02

High market price (period ended June 30)

$                       12.67

$                       14.67

Low market price (period ended June 30)

$                       11.42

$                       11.72

SOURCE Eaton Vance Management



RELATED LINKS

http://www.eatonvance.com