Eaton Vance Senior Floating-Rate Trust Report Of Earnings

18 Oct, 2013, 11:30 ET from Eaton Vance Management

BOSTON, Oct. 18, 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 nine months ended July 31, 2013. The Trust's fiscal year ends on October 31, 2013.

For the three months ended July 31, 2013, the Trust had net investment income of $8,962,009 ($0.244 per common share). From this amount, the Trust paid dividends on preferred shares of $46,518 (equal to $0.002 for each common share), resulting in net investment income after the preferred dividends of $8,915,491 or $0.242 per common share. For the nine months ended July 31, 2013, the Trust had net investment income of $27,239,813 ($0.772 per common share). From this amount, the Trust paid dividends on preferred shares of $161,709 (equal to $0.005 for each common share), resulting in net investment income after the preferred dividends of $27,078,104 or $0.767 per common share. In comparison, for the three months ended July 31, 2012, the Trust had net investment income of $8,998,173 ($0.267 per common share). From this amount, the Trust paid dividends on preferred shares of $58,527 (equal to $0.002 for each common share), resulting in net investment income after the preferred dividends of $8,939,646 or $0.265 per common share. For the nine months ended July 31, 2012, the Trust had net investment income of $26,740,302 ($0.792 per common share). From this amount, the Trust paid dividends on preferred shares of $158,335 (equal to $0.005 for each common share), resulting in net investment income after the preferred dividends of $26,581,967 or $0.787 per common share. 

Net realized and unrealized losses for the three months ended July 31, 2013 were $5,728,155 ($0.166 per common share) and net realized and unrealized gains for the nine months ended July 31, 2013 were $5,944,948 ($0.168 per common share). In comparison, net realized and unrealized losses for the three months ended July 31, 2012 were $2,249,515 ($0.067 per common share) and net realized and unrealized gains for the nine months ended July 31, 2012 were $14,309,225 ($0.424 per common share). 

On July 31, 2013, net assets of the Trust were $583,866,432. The net asset value per common share on July 31, 2013 was $15.85 based on 36,828,516 common shares outstanding. In comparison, on July 31, 2012, net assets of the Trust were $518,442,761. The net asset value per common share on July 31, 2012 was $15.34 based on 33,792,290 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 $273.1 billion in assets as of September 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

Nine Months Ended

July 31,

July 31,

2013

2012

2013

2012

Gross investment income

$ 11,529

$ 11,361

$   34,581

$   33,675

Operating expenses

(1,984)

(1,808)

(5,695)

(5,293)

Interest expense

(583)

(555)

(1,646)

(1,642)

Net investment income

$   8,962

$   8,998

$   27,240

$   26,740

Net realized and unrealized gains (losses)

  on investments

$ (5,728)

$ (2,250)

$     5,945

$   14,309

Preferred dividends paid from net investment income

(47)

(58)

(162)

(158)

Net increase (decrease) in net assets from operations

$   3,187

$   6,690

$   33,023

$   40,891

Earnings per Common Share Outstanding

Gross investment income

$   0.314

$   0.337

$     0.980

$     0.997

Operating expenses

(0.054)

(0.054)

(0.161)

(0.157)

Interest expense

(0.016)

(0.016)

(0.047)

(0.048)

Net investment income 

$   0.244

$   0.267

$     0.772

$     0.792

Net realized and unrealized gains (losses)

  on investments

$ (0.166)

$ (0.067)

$     0.168

$     0.424

Preferred dividends paid from net investment income

(0.002)

(0.002)

(0.005)

(0.005)

Net increase (decrease) in net assets from operations

$   0.076

$   0.198

$     0.935

$     1.211

Net investment income 

$   0.244

$   0.267

$     0.772

$     0.792

Preferred dividends paid from net investment income

(0.002)

(0.002)

(0.005)

(0.005)

Net investment income after preferred dividends

$   0.242

$   0.265

$     0.767

$     0.787

Net Asset Value at July 31 (Common Shares)

Net assets 

$ 583,866

$ 518,443

Shares outstanding 

36,829

33,792

Net asset value per share outstanding

$     15.85

$     15.34

Market Value Summary (Common Shares)

Market price on NYSE at July 31

$     16.15

$     15.83

High market price (period ended July 31)

$     17.62

$     15.83

Low market price (period ended July 31)

$     15.66

$     13.67

SOURCE Eaton Vance Management



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http://www.eatonvance.com