Eaton Vance Ohio Municipal Bond Fund Report of Earnings

Sep 08, 2011, 15:08 ET from Eaton Vance Management

BOSTON, Sept. 8, 2011 /PRNewswire/ -- Eaton Vance Ohio Municipal Bond Fund (NYSE Amex: EIO) (the "Fund"), a closed-end management investment company, today announced the earnings of the Fund for the three and nine-month periods ended June 30, 2011.  The Fund's fiscal year ends on September 30, 2011.

For the three months ended June 30, 2011, the Fund had net investment income of $506,339 ($0.200 per common share). From this amount, the Fund paid dividends on preferred shares of $13,363 (equal to $0.005 for each common share), resulting in net investment income after the preferred dividends of $492,976, or $0.195 per common share. The Fund's net investment income for the nine months ended June 30, 2011 was $1,552,409 ($0.614 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 $0.595 per common share. In comparison, for the three months ended June 30, 2010, the Fund had net investment income of $521,233 ($0.206 per common share). From this amount, the Fund paid dividends on preferred shares of $19,024 (equal to $0.008 for each common share), resulting in net investment income after the preferred dividends of $502,209, or $0.198 per common share. The Fund's net investment income for the nine months ended June 30, 2010 was $1,577,409 ($0.625 per common share, before deduction of the preferred share dividends totaling $0.021 per common share), resulting in net investment income after the preferred dividends of $0.604 per common share.

Net realized and unrealized gains for the three months ended June 30, 2011 were $1,565,533 ($0.625 per common share). The Fund's net realized and unrealized losses for the nine months ended June 30, 2011 were $3,334,633 ($1.319 per common share). In comparison, net realized and unrealized losses for the three months ended June 30, 2010 were $241,764 ($0.096 per common share). The Fund's net realized and unrealized losses for the nine months ended June 30, 2010 were $1,831,994 ($0.726 per common share).

On June 30, 2011, net assets of the Fund applicable to common shares were $29,471,274. The net asset value per common share on June 30, 2011 was $11.65 based on 2,529,490 common shares outstanding. In comparison, on June 30, 2010, net assets of the Fund applicable to common shares were $31,021,231. The net asset value per common share on June 30, 2010 was $12.29 based on 2,523,976 common shares outstanding.

The Fund 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"). Fund portfolio holdings for the most recent calendar quarter-end are also posted to the website approximately 30 days following quarter-end.

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 $199.0 billion in assets as of July 31, 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 OHIO MUNICIPAL BOND FUND

SUMMARY OF RESULTS OF OPERATIONS

(in thousands, except per share amounts)

Three Months Ended

Nine Months Ended

June 30,

June 30,

2011

2010

2011

2010

Net investment income

$    506

$    521

$   1,552

$   1,577

Net realized and unrealized gains (losses)

 on investments

1,565

(242)

(3,335)

(1,832)

Preferred dividends paid from net investment income

(13)

(19)

(49)

(52)

Net increase (decrease) in net assets

 from operations

$ 2,058

$    260

$ (1,832)

$    (307)

Earnings per Common Share Outstanding

Net investment income

$ 0.200

$ 0.206

$   0.614

$   0.625

Net realized and unrealized gains (losses)

 on investments

0.625

(0.096)

(1.319)

(0.726)

Preferred dividends paid from net investment income

(0.005)

(0.008)

(0.019)

(0.021)

Net increase (decrease) in net assets

 from operations

$ 0.820

$ 0.102

$ (0.724)

$ (0.122)

Net investment income

$ 0.200

$ 0.206

$   0.614

$   0.625

Preferred dividends paid from net investment income

(0.005)

(0.008)

(0.019)

(0.021)

Net investment income after preferred dividends

$ 0.195

$ 0.198

$   0.595

$   0.604

Net Asset Value at June 30 (Common Shares)

Net assets

$ 29,471

$ 31,021

Shares outstanding

2,529

2,524

Net asset value per share outstanding

$   11.65

$   12.29

Market Value Summary (Common Shares)

Market price on NYSE Amex at June 30

$   12.65

$   13.11

High market price (period ended June 30)

$   14.20

$   13.82

Low market price (period ended June 30)

$   10.82

$   12.21

SOURCE Eaton Vance Management



RELATED LINKS

http://www.eatonvance.com