2014

Eaton Vance Massachusetts Municipal Income Trust Report Of Earnings

BOSTON, Nov. 12, 2012 /PRNewswire/ -- Eaton Vance Massachusetts Municipal Income Trust (NYSE MKT: MMV) (the "Trust"), a closed-end management investment company, today announced the earnings of the Trust for the three and nine-month periods ended August 31, 2012.  The Trust's fiscal year ends on November 30, 2012.

For the three months ended August 31, 2012, the Trust had net investment income of $519,838 ($0.189 per common share).  From this amount, the Trust paid dividends on preferred shares of $13,019 (equal to $0.005 for each common share), resulting in net investment income after the preferred dividends of $506,819, or $0.184 per common share. The Trust's net investment income for the nine months ended August 31, 2012 was $1,604,028 ($0.584 per common share, before deduction of the preferred share dividends totaling $0.014 per common share), resulting in net investment income after the preferred dividends of $0.570 per common share. In comparison, for the three months ended August 31, 2011, the Trust had net investment income of $603,924 ($0.221 per common share).  From this amount, the Trust paid dividends on preferred shares of $10,594 (equal to $0.004 for each common share), resulting in net investment income after the preferred dividends of $593,330, or $0.217 per common share. The Trust's net investment income for the nine months ended August 31, 2011 was $1,857,419 ($0.678 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 $0.659 per common share.

Net realized and unrealized gains for the three months ended August 31, 2012 were $900,654 ($0.329 per common share). The Trust's net realized and unrealized gains for the nine months ended August 31, 2012 were $4,561,316 ($1.660 per common share). In comparison, net realized and unrealized gains for the three months ended August 31, 2011 were $1,262,250 ($0.469 per common share). The Trust's net realized and unrealized gains for the nine months ended August 31, 2011 were $110,384 ($0.040 per common share).

On August 31, 2012, net assets of the Trust applicable to common shares were $42,870,776.  The net asset value per common share on August 31, 2012 was $15.59 based on 2,749,072 common shares outstanding.  In comparison, on August 31, 2011, net assets of the Trust applicable to common shares were $37,878,271.  The net asset value per common share on August 31, 2011 was $13.80 based on 2,744,105 common shares outstanding.

The Trust 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").  Trust portfolio holdings for the most recent month-end are also posted to the website approximately 30 days following month-end.

The Trust 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 MASSACHUSETTS MUNICIPAL INCOME TRUST

SUMMARY OF RESULTS OF OPERATIONS

(in thousands, except per share amounts)












Three Months Ended


Nine Months Ended



August 31, 


August 31,



2012


2011


2012


2011

Net investment income

$       520


$       604


$    1,604


$    1,857

Net realized and unrealized gains (losses)








  on investments

901


1,262


4,561


110

Preferred dividends paid from net investment income

(13)


(11)


(38)


(51)


Net increase (decrease) in net assets









  from operations

$    1,408


$    1,855


$    6,127


$    1,916










Earnings per Common Share Outstanding








Net investment income

$    0.189


$    0.221


$    0.584


$    0.678

Net realized and unrealized gains (losses)








  on investments

0.329


0.469


1.660


0.040

Preferred dividends paid from net investment income

(0.005)


(0.004)


(0.014)


(0.019)


Net increase (decrease) in net assets









  from operations

$    0.513


$    0.686


$    2.230


$    0.699










Net investment income

$    0.189


$    0.221


$    0.584


$    0.678

Preferred dividends paid from net investment income

(0.005)


(0.004)


(0.014)


(0.019)

Net investment income after preferred dividends

$    0.184


$    0.217


$    0.570


$    0.659










Net Asset Value at August 31 (Common Shares)









Net assets 





$42,871


$37,878


Shares outstanding 





2,749


2,744


Net asset value per share outstanding





$15.59


$13.80










Market Value Summary (Common Shares)









Market price on NYSE MKT at August 31





$16.00


$13.76


High market price (period ended August 31)





$16.00


$14.43


Low market price (period ended August 31)





$14.11


$12.09










 

 

SOURCE Eaton Vance Management



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