Eaton Vance Massachusetts Municipal Income Trust Report of Earnings

Nov 03, 2011, 16:26 ET from Eaton Vance Management

BOSTON, Nov. 3, 2011 /PRNewswire/ -- Eaton Vance Massachusetts Municipal Income Trust (NYSE Amex: 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, 2011.  The Trust's fiscal year ends on November 30, 2011.

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. In comparison, for the three months ended August 31, 2010, the Trust had net investment income of $633,175 ($0.231 per common share).  From this amount, the Trust paid dividends on preferred shares of $21,199 (equal to $0.008 for each common share), resulting in net investment income after the preferred dividends of $611,976, or $0.223 per common share. The Trust's net investment income for the nine months ended August 31, 2010 was $1,908,651 ($0.699 per common share, before deduction of the preferred share dividends totaling $0.022 per common share), resulting in net investment income after the preferred dividends of $0.677 per common share.

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). In comparison, net realized and unrealized gains for the three months ended August 31, 2010 were $1,756,145 ($0.647 per common share). The Trust's net realized and unrealized gains for the nine months ended August 31, 2010 were $3,783,415 ($1.386 per common share).

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.  In comparison, on August 31, 2010, net assets of the Trust applicable to common shares were $40,921,705.  The net asset value per common share on August 31, 2010 was $14.97 based on 2,733,766 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 calendar quarter-end are also posted to the website approximately 30 days following quarter-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 $177.8 billion in assets as of September 30, 2011, 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,

2011

2010

2011

2010

Net investment income

$    604

$    633

$  1,857

$  1,909

Net realized and unrealized gains (losses)

 on investments

1,262

1,756

110

3,783

Preferred dividends paid from net investment income

(11)

(21)

(51)

(61)

Net increase (decrease) in net assets

 from operations

$ 1,855

$ 2,368

$  1,916

$  5,631

Earnings per Common Share Outstanding

Net investment income

$ 0.221

$ 0.231

$  0.678

$  0.699

Net realized and unrealized gains (losses)

 on investments

0.469

0.647

0.040

1.386

Preferred dividends paid from net investment income

(0.004)

(0.008)

(0.019)

(0.022)

Net increase (decrease) in net assets

 from operations

$ 0.686

$ 0.870

$  0.699

$  2.063

Net investment income

$ 0.221

$ 0.231

$  0.678

$  0.699

Preferred dividends paid from net investment income

(0.004)

(0.008)

(0.019)

(0.022)

Net investment income after preferred dividends

$ 0.217

$ 0.223

$  0.659

$  0.677

Net Asset Value at August 31 (Common Shares)

Net assets

$37,878

$40,922

Shares outstanding

2,744

2,734

Net asset value per share outstanding

$13.80

$14.97

Market Value Summary (Common Shares)

Market price on NYSE Amex at August 31

$13.76

$15.42

High market price (period ended August 31)

$14.43

$15.53

Low market price (period ended August 31)

$12.09

$13.35

SOURCE Eaton Vance Management



RELATED LINKS

http://www.eatonvance.com