Eaton Vance Limited Duration Income Fund Report of Earnings

BOSTON, Feb. 22, 2013 /PRNewswire/ -- Eaton Vance Limited Duration Income Fund (NYSE MKT: EVV) (the "Fund"), a closed-end management investment company, today announced the earnings of the Fund for the three months and the nine months ended December 31, 2012. The Fund's fiscal year ends on March 31, 2013. 

For the three months ended December 31, 2012, the Fund had net investment income of $37,356,388 ($0.318 per common share).  From this amount, the Fund paid dividends on preferred shares of $128,618 (equal to $0.001 for each common share), resulting in net investment income after the preferred dividends of $37,227,769 or $0.317 per common share.  For the nine months ended December 31, 2012, the Fund had net investment income of $100,879,557 ($0.859 per common share).  From this amount, the Fund paid dividends on preferred shares of $378,998 (equal to $0.003 for each common share), resulting in net investment income after the preferred dividends of $100,500,558 or $0.856 per common share.  In comparison, for the three months ended December 31, 2011, the Fund had net investment income of $32,308,790 ($0.275 per common share).  From this amount, the Fund paid dividends on preferred shares of $93,689 (equal to $0.001 for each common share), resulting in net investment income after the preferred dividends of $32,215,101 or $0.274 per common share.  For the nine months ended December 31, 2011, the Fund had net investment income of $97,472,444 ($0.831 per common share).  From this amount, the Fund paid dividends on preferred shares of $334,302 (equal to $0.003 for each common share), resulting in net investment income after the preferred dividends of $97,138,142 or $0.828 per common share.

Net realized and unrealized gains for the three months ended December 31, 2012 were $4,977,870 ($0.050 per common share).  The Fund's net realized and unrealized gains for the nine months ended December 31, 2012 were $38,211,014 ($0.326 per common share).  In comparison, net realized and unrealized gains for the three months ended December 31, 2011 were $44,096,881 ($0.376 per common share). The Fund's net realized and unrealized losses for the nine months ended December 31, 2011 were $73,461,120 ($0.626 per common share).

On December 31, 2012, net assets of the Fund applicable to common shares were $1,971,973,615. The net asset value per common share on December 31, 2012 was $16.79 based on 117,454,750 common shares outstanding.  In comparison, on December 31, 2011, net assets of the Fund applicable to common shares were $1,899,724,183.  The net asset value per common share on December 31, 2011 was $16.19 based on 117,344,153 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 $247.8 billion in assets as of January 31, 2013, 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 LIMITED DURATION INCOME FUND

SUMMARY OF RESULTS OF OPERATIONS

(in thousands, except per share amounts)















Three Months Ended


Nine Months Ended





December 31,


December 31,





2012


2011


2012


2011


Gross investment income

$44,943


$40,788


$124,355


$122,212


Operating expenses

(5,615)


(5,854)


(16,967)


(17,030)


Interest expense

(1,972)


(2,625)


(6,508)


(7,710)



Net investment income

$37,356


$32,309


$100,880


$97,472


Net realized and unrealized gains (losses)









  on investments

$4,978


$44,097


$38,211


($73,461)


Preferred dividends paid from net investment income

(129)


(94)


(379)


(334)



Net increase (decrease) in net assets










  from operations

$42,205


$76,312


$138,712


$23,677













Earnings per Common Share Outstanding









Gross investment income

$0.382


$0.347


$1.059


$1.041


Operating expenses

(0.048)


(0.050)


(0.145)


(0.145)


Interest expense

(0.016)


(0.022)


(0.055)


(0.065)



Net investment income

$0.318


$0.275


$0.859

(1)

$0.831

(1)

Net realized and unrealized gains (losses)









  on investments

$0.050


$0.376


$0.326


($0.626)


Preferred dividends paid from net investment income

(0.001)


(0.001)


(0.003)


(0.003)



Net increase (decrease) in net assets










  from operations

$0.367


$0.650


$1.182


$0.202













Net investment income

$0.318


$0.275


$0.859


$0.831


Preferred dividends paid from net investment income

(0.001)


(0.001)


(0.003)


(0.003)


Net investment income after preferred dividends

$0.317


$0.274


$0.856


$0.828













Net Asset Value at December 31 (Common Share )










Net assets (000)





$1,971,974


$1,899,724



Shares outstanding (000)





117,455


117,344



Net asset value per share outstanding





$16.79


$16.19













Market Value Summary (Common Share )










Market price on NYSE MKT at December 31





$16.94


$15.23



High market price (nine months ended December 31)





$17.38


$16.73



Low market price (nine months ended December 31)





$15.69


$14.10













(1) For Federal Income Tax purposes, net investment income per share for the nine months ended December 31, 2012 and December 31, 2011, was $0.909 and $0.942, respectively.


SOURCE Eaton Vance Management



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