Eaton Vance Enhanced Equity Income Fund Report of Earnings

Jun 11, 2010, 15:31 ET from Eaton Vance Management

BOSTON, June 11 /PRNewswire-FirstCall/ -- Eaton Vance Enhanced Equity Income Fund (NYSE: EOI), a diversified closed-end investment company, today announced the earnings of the Fund for the three months and the six months ended March 31, 2010.  The Fund's fiscal year ends on September 30, 2010.

For the three months ended March 31, 2010, the Fund had net investment income of $838,317 ($0.022 per common share).  For the six months ended March 31, 2010, the Fund had net investment income of $1,816,406 ($0.046 per common share).  In comparison, for the three months ended March 31, 2009, the Fund had net investment income of $1,635,166 ($0.041 per common share).  For the six months ended March 31, 2009, the Fund had net investment income of $3,283,054 ($0.083 per common share).  

Net realized and unrealized gains for the three months ended March 31, 2010 were $24,377,273 ($0.612 per common share) and net realized and unrealized gains for the six months ended March 31, 2010 were $51,526,467 ($1.294 per common share). In comparison, net realized and unrealized losses for the three months ended March 31, 2009 were $47,638,257 ($1.200 per common share) and net realized and unrealized losses for the six months ended March 31, 2009 were $166,326,687 ($4.191 per common share).

On March 31, 2010, net assets of the Fund were $558,987,687.  The net asset value per common share on March 31, 2010 was $14.03 based on 39,846,348 common shares outstanding.  In comparison, on March 31, 2009, net assets of the Fund were $459,174,474.  The net asset value per common share on March 31, 2009 was $11.56 based on 39,711,336 common shares outstanding.

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 $176.2 billion in assets as of April 30, 2010, 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 ENHANCED EQUITY INCOME FUND

SUMMARY OF RESULTS OF OPERATIONS

(in thousands, except per share amounts)

Three Months Ended

Six Months Ended

March 31

March 31

2010

2009

2010

2009

Gross investment income 

$   2,284

$    3,069

$     4,841

$      6,196

Operating expenses 

(1,446)

(1,434)

(3,025)

(2,913)

Net investment income

$      838

$    1,635

$     1,816

$      3,283

Net realized and unrealized gains (losses) on investments 

$ 24,377

$ (47,638)

$   51,526

$ (166,327)

Net increase (decrease) in net assets from operations

$ 25,215

$ (46,003)

$   53,342

$ (163,044)

Earnings per Common Share Outstanding

Gross investment income 

$   0.058

$    0.077

$     0.122

$      0.156

Operating expenses 

(0.036)

(0.036)

(0.076)

(0.073)

Net investment income

$   0.022

$    0.041

$     0.046

$      0.083

Net realized and unrealized gains (losses) on investments 

$   0.612

$   (1.200)

$     1.294

$     (4.191)

Net increase (decrease) in net assets  from operations

$   0.634

$   (1.159)

$     1.340

$     (4.108)

Net Asset Value at March 31 (Common Shares)

Net assets   

$ 558,988

$  459,174

Shares outstanding

39,846

39,711

Net asset value per share outstanding

$     14.03

$      11.56

Market Value Summary (Common Shares)

Market price on NYSE at March 31

$     14.06

$      10.25

High market price (period ended March 31)

$     14.75

$      13.56

Low market price (period ended March 31)

$     12.49

$        8.14

SOURCE Eaton Vance Management



RELATED LINKS

http://www.eatonvance.com