Eaton Vance Floating-Rate Income Trust Report Of Earnings

BOSTON, Oct. 16, 2012 /PRNewswire/ -- Eaton Vance Floating-Rate Income Trust (NYSE: EFT) (the "Fund"), a closed-end management investment company, today announced the earnings of the Fund for the three months ended August 31, 2012.  The Fund's fiscal year ends on May 31, 2013.

For the three months ended August 31, 2012, the Fund had net investment income of $10,147,505 ($0.270 per common share).  From this amount, the Fund paid dividends on preferred shares of $374,251 (equal to $0.010 for each common share), resulting in net investment income after the preferred dividends of $9,773,254 or $0.260 per common share.  In comparison, for the three months ended August 31, 2011, the Fund had net investment income of $9,421,056 ($0.251 per common share).  From this amount, the Fund paid dividends on preferred shares of $291,771 (equal to $0.008 for each common share), resulting in net investment income after the preferred dividends of $9,129,285 or $0.243 per common share.   

Net realized and unrealized gains for the three months ended August 31, 2012 were $10,031,965 ($0.267 per common share).  In comparison, net realized and unrealized losses for the three months ended August 31, 2011 were $45,715,048 ($1.220 per common share).

On August 31, 2012, net assets of the Fund applicable to common shares were $592,317,207.  The net asset value per common share on August 31, 2012 was $15.78 based on 37,524,476 common shares outstanding.  In comparison, on August 31, 2011, net assets of the Fund applicable to common shares were $550,404,260.  The net asset value per common share on August 31, 2011 was $14.68 based on 37,486,982 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 month-end are also posted to the website approximately 30 days following month-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 $198.2 billion in assets as of September 30, 2012, 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 FLOATING-RATE INCOME TRUST

SUMMARY OF RESULTS OF OPERATIONS

(in thousands, except per share amounts)











Three Months Ended



Three Months Ended




August 31,



August 31,




2012



2011

Gross investment income


$13,056



$12,060

Operating expenses


(2,014)



(1,819)

Interest expense


(894)



(820)


Net investment income


$10,148



$9,421

Net realized and unrealized gains (losses) on investments


$10,032



($45,715)

Preferred dividends paid from net investment income


(374)



(292)


Net increase (decrease) in net assets from operations


$19,806



($36,586)








Earnings per Common Share Outstanding






Gross investment income


$0.348



$0.322

Operating expenses


(0.054)



(0.049)

Interest expense


(0.024)



(0.022)


Net investment income


$0.270



$0.251

Net realized and unrealized gains (losses) on investments


$0.267



($1.220)

Preferred dividends paid from net investment income


(0.010)



(0.008)


Net increase (decrease) in net assets from operations


$0.527



($0.977)








Net investment income


$0.270



$0.251

Preferred dividends paid from net investment income


(0.010)



(0.008)

Net investment income after preferred dividends


$0.260



$0.243








Net Asset Value at August 31 (Common Share)







Net assets (000)


$592,317



$550,404


Shares outstanding (000)


37,524



37,487


Net asset value per share outstanding


$15.78



$14.68








Market Value Summary (Common Share)







Market price on NYSE at August 31


$16.53



$14.18


High market price (three months ended August 31)


$16.67



$16.57


Low market price (three months ended August 31)


$14.87



$13.57








 

 

SOURCE Eaton Vance Management



RELATED LINKS
http://www.eatonvance.com

More by this Source


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

 

PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.