Eaton Vance Senior Floating-Rate Trust Report of Earnings

BOSTON, July 9, 2013 /PRNewswire/ -- Eaton Vance Senior Floating-Rate Trust (NYSE: EFR) (the "Trust"), a diversified closed-end management investment company, today announced the earnings of the Trust for the three months and six months ended April 30, 2013. The Trust's fiscal year ends on October 31, 2013.

For the three months ended April 30, 2013, the Trust had net investment income of $8,924,401 ($0.252 per common share). From this amount, the Trust paid dividends on preferred shares of $51,696 (equal to $0.001 for each common share), resulting in net investment income after the preferred dividends of $8,872,705 or $0.251 per common share. For the six months ended April 30, 2013, the Trust had net investment income of $18,277,804 ($0.528 per common share). From this amount, the Trust paid dividends on preferred shares of $115,191 (equal to $0.003 for each common share), resulting in net investment income after the preferred dividends of $18,162,613 or $0.525 per common share. In comparison, for the three months ended April 30, 2012, the Trust had net investment income of $10,081,721 ($0.299 per common share). From this amount, the Trust paid dividends on preferred shares of $57,982 (equal to $0.002 for each common share), resulting in net investment income after the preferred dividends of $10,023,739 or $0.297 per common share. For the six months ended April 30, 2012, the Trust had net investment income of $17,742,129 ($0.525 per common share). From this amount, the Trust paid dividends on preferred shares of $99,808 (equal to $0.003 for each common share), resulting in net investment income after the preferred dividends of $17,642,321 or $0.522 per common share. 

Net realized and unrealized gains for the three months ended April 30, 2013 were $4,588,700 ($0.125 per common share) and net realized and unrealized gains for the six months ended April 30, 2013 were $11,673,103 ($0.334 per common share). In comparison, net realized and unrealized gains for the three months ended April 30, 2012 were $7,770,133 ($0.231 per common share) and net realized and unrealized gains for the six months ended April 30, 2012 were $16,558,740 ($0.491 per common share). 

On April 30, 2013, net assets of the Trust were $577,298,948. The net asset value per common share on April 30, 2013 was $16.00 based on 36,074,786 common shares outstanding. In comparison, on April 30, 2012, net assets of the Trust were $520,421,550. The net asset value per common share on April 30, 2012 was $15.41 based on 33,778,557 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 $260.3 billion in assets as of April 30, 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 SENIOR FLOATING-RATE TRUST

SUMMARY OF RESULTS OF OPERATIONS

(in thousands, except per share amounts)




















Three Months Ended


Six Months Ended







April 30,


April 30,







2013


2012


2013


2012

Gross investment income



$           11,308


$         12,337


$        23,052


$           22,314

Operating expenses




(1,866)


(1,740)


(3,711)


(3,485)

Interest expense




(517)


(515)


(1,063)


(1,087)


Net investment income



$             8,925


$         10,082


$        18,278


$           17,742

Net realized and unrealized gains (losses)








  on investments





$             4,589


$           7,770


$        11,673


$           16,559

Preferred dividends paid from net investment income  

(52)


(58)


(115)


(100)


Net increase (decrease) in net assets









  from operations




$           13,462


$         17,794


$        29,836


$           34,201














Earnings per Common Share Outstanding








Gross investment income



$             0.320


$           0.365


$           0.666


$             0.660

Operating expenses




(0.053)


(0.051)


(0.107)


(0.103)

Interest expense




(0.015)


(0.015)


(0.031)


(0.032)


Net investment income 



$             0.252


$           0.299


$           0.528


$             0.525

Net realized and unrealized gains (losses)








  on investments





$             0.125


$           0.231


$           0.334


$             0.491

Preferred dividends paid from net investment income

(0.001)


(0.002)


(0.003)


(0.003)


Net increase (decrease) in net assets









  from operations




$             0.376


$           0.528


$           0.859


$             1.013














Net investment income 




$             0.252


$           0.299


$           0.528


$             0.525

Preferred dividends paid from net investment income

(0.001)


(0.002)


(0.003)


(0.003)

Net investment income after preferred dividends

$             0.251


$           0.297


$           0.525


$             0.522



























Net Asset Value at April 30 (Common Shares)









Net assets 









$      577,299


$        520,422


Shares outstanding 







36,075


33,779


Net asset value per share outstanding





$           16.00


$             15.41














Market Value Summary (Common Shares)









Market price on NYSE at April 30






$           17.37


$             15.64


High market price (period ended April 30)





$           17.62


$             15.80


Low market price (period ended April 30)





$           15.66


$             13.67














 

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.