Eaton Vance Senior Floating-Rate Trust Report Of Earnings

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



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.