Eaton Vance Senior Income Trust Report of Earnings
BOSTON, Feb. 17 /PRNewswire-FirstCall/ -- Eaton Vance Senior Income Trust (NYSE: EVF) (the "Trust"), a closed-end management investment company, today announced the earnings of the Trust for the three months and the six months ended December 31, 2009. The Trust's fiscal year ends on June 30, 2010.
For the three months ended December 31, 2009, the Trust had net investment income of $3,684,611 ($0.101 per common share). From this amount, the Trust paid dividends on preferred shares of $41,539 (equal to $0.001 for each common share), resulting in net investment income after the preferred dividends of $3,643,072 or $0.100 per common share. For the six months ended December 31, 2009, the Trust had net investment income of $7,114,860 ($0.195 per common share). From this amount, the Trust paid dividends on preferred shares of $102,278 (equal to $0.003 for each common share), resulting in net investment income after the preferred dividends of $7,012,582 or $0.192 per common share. In comparison, for the three months ended December 31, 2008, the Trust had net investment income of $5,406,761 ($0.148 per common share). From this amount, the Trust paid dividends on preferred shares of $363,685 (equal to $0.010 for each common share), resulting in net investment income after the preferred dividends of $5,043,076 or $0.138 per common share. For the six months ended December 31, 2008, the Trust had net investment income of $11,090,407 ($0.304 per common share). From this amount, the Trust paid dividends on preferred shares of $1,070,581 (equal to $0.029 for each common share), resulting in net investment income after the preferred dividends of $10,019,826, or $0.275 per common share.
Net realized and unrealized gains for the three months ended December 31, 2009 were $9,799,153 ($0.267 per common share). The Trust's net realized and unrealized gains for the six months ended December 31, 2009 were $39,119,940 ($1.069 per common share). In comparison, net realized and unrealized losses for the three months ended December 31, 2008 were $105,945,995 ($2.905 per common share). The Trust's net realized and unrealized losses for the six months ended December 31, 2008 were $144,312,323 ($3.957 per common share).
On December 31, 2009, net assets of the Trust applicable to common shares were $239,335,877. The net asset value per common share on December 31, 2009 was $6.55 based on 36,540,034 common shares outstanding. In comparison, on December 31, 2008, net assets of the Trust applicable to common shares were $129,403,587. The net asset value per common share on December 31, 2008 was $3.54 based on 36,513,575 common shares outstanding.
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 $163.1 billion in assets as of December 31, 2009, offering individuals and institutions a broad array of investment products 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 INCOME TRUST
SUMMARY OF RESULTS OF OPERATIONS
(in thousands, except per share amounts)
Three Months Ended Six Months Ended
December 31, December 31,
------------ ------------
2009 2008 2009 2008
---- ---- ---- ----
Gross investment income $4,999 $7,318 $9,736 $15,088
Interest expense (123) (611) (303) (1,385)
Operating expenses (1,191) (1,300) (2,318) (2,613)
------ ------ ------ ------
Net investment income $3,685 $5,407 $7,115 $11,090
Net realized and unrealized
gains (losses) on investments $9,799 ($105,946) $39,120 ($144,312)
Preferred dividends paid
from net investment income (42) (364) (102) (1,071)
--- ---- ---- ------
Net increase (decrease) in
net assets from operations $13,442 ($100,903) $46,133 ($134,293)
======= ========= ======= =========
Earnings per Common Share
Outstanding
-------------------------
Gross investment income $0.137 $0.201 $0.266 $0.414
Interest expense (0.003) (0.017) (0.008) (0.038)
Operating expenses (0.033) (0.036) (0.063) (0.072)
------ ------ ------ ------
Net investment income $0.101 $0.148 $0.195 $0.304
Net realized and unrealized
gains (losses) on investments $0.267 ($2.905) $1.069 ($3.957)
Preferred dividends paid
from net investment income (0.001) (0.010) (0.003) (0.029)
------ ------ ------ ------
Net increase (decrease) in
net assets from operations $0.367 ($2.767) $1.261 ($3.682)
====== ======= ====== =======
Net investment income $0.101 $0.148 $0.195 $0.304
Preferred dividends paid
from net investment income (0.001) (0.010) (0.003) (0.029)
------ ------ ------ ------
Net investment income after
preferred dividends $0.100 $0.138 $0.192 $0.275
====== ====== ====== ======
Net Asset Value at December 31
(Common Share )
------------------------------
Net assets (000) $239,336 $129,404
Shares outstanding (000) 36,540 36,514
Net asset value per share
outstanding $6.55 $3.54
Market Value Summary
(Common Share )
--------------------
Market price on NYSE at
December 31 $6.26 $3.41
High market price (six months
ended December 31) $6.27 $6.64
Low market price (six months
ended December 31) $4.61 $2.89
SOURCE Eaton Vance Management
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