EAT VNCE INS MASS BOSTON, Jan. 14, 2015 /PRNewswire/ -- Eaton Vance Massachusetts Municipal Bond Fund (NYSE MKT: MAB) (the "Fund"), a closed-end management investment company, today announced the earnings of the Fund for the three months and year ended September 30, 2014. The Fund's fiscal year ended on September 30, 2014.
For the three months ended September 30, 2014, the Fund had net investment income of $351,331 ($0.199 per common share). From this amount, the Fund paid dividends on preferred shares of $3,492 (equal to $0.002 for each common share), resulting in net investment income after the preferred dividends of $347,839, or $0.197 per common share. The Fund's net investment income for the year ended September 30, 2014 was $1,393,559 ($0.788 per common share, before deduction of the preferred share dividends totaling $0.009 per common share), resulting in net investment income after the preferred dividends of $0.779 per common share. In comparison, for the three months ended September 30, 2013, the Fund had net investment income of $354,080 ($0.201 per common share). From this amount, the Fund paid dividends on preferred shares of $3,298 (equal to $0.002 for each common share), resulting in net investment income after the preferred dividends of $350,782, or $0.199 per common share. The Fund's net investment income for the year ended September 30, 2013 was $1,415,792 ($0.801 per common share, before deduction of the preferred share dividends totaling $0.015 per common share), resulting in net investment income after the preferred dividends of $0.786 per common share.
Net realized and unrealized gains for the three months ended September 30, 2014 were $578,926 ($0.323 per common share). The Fund's net realized and unrealized gains for the year ended September 30, 2014 were $2,910,266 ($1.641 per common share). In comparison, net realized and unrealized losses for the three months ended September 30, 2013 were $678,149 ($0.385 per common share). The Fund's net realized and unrealized losses for the year ended September 30, 2013 were $4,221,850 ($2.389 per common share).
On September 30, 2014, net assets of the Fund applicable to common shares were $26,869,600. The net asset value per common share on September 30, 2014 was $15.19 based on 1,768,514 common shares outstanding. In comparison, on September 30, 2013, net assets of the Fund applicable to common shares were $23,925,019. The net asset value per common share on September 30, 2013 was $13.53 based on 1,768,514 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 month-end are also posted to the website approximately 30 days following month-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 $296.0 billion in assets as of December 31, 2014 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 BOND FUND
SUMMARY OF RESULTS OF OPERATIONS
(in thousands, except per share amounts)
Three Months Ended Year Ended
September 30, September 30,
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2014 2013 2014 2013
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Net investment income $352 $354 $1,394 $1,416
Net realized and unrealized gains (losses) on investments 579 (678) 2,910 (4,222)
Preferred dividends paid from net investment income (3) (4) (15) (27)
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Net increase (decrease) in net assets from operations $928 $(328) $4,289 $(2,833)
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Earnings per Common Share Outstanding
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Net investment income $0.199 $0.201 $0.788 $0.801
Net realized and unrealized gains (losses) on investments 0.323 (0.385) 1.641 (2.389)
Preferred dividends paid from net investment income (0.002) (0.002) (0.009) (0.015)
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Net increase (decrease) in net assets from operations $0.520 $(0.186) $2.420 $(1.603)
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Net investment income $0.199 $0.201 $0.788 $0.801
Preferred dividends paid from net investment income (0.002) (0.002) (0.009) (0.015)
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Net investment income after preferred dividends $0.197 $0.199 $0.779 $0.786
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Net Asset Value at September 30 (Common Shares)
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Net assets $26,870 $23,925
Shares outstanding 1,769 1,769
Net asset value per share outstanding $15.19 $13.53
Market Value Summary (Common Shares)
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Market price on NYSE MKT at September 30 $14.56 $12.51
High market price (period ended September 30) $15.35 $17.99
Low market price (period ended September 30) $11.89 $11.85
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SOURCE Eaton Vance Management
