EATON VANCE LIMITED DURATION INCOME FUND 
By BOSTON, Feb. 14, 2014 /PRNewswire/ -- Eaton Vance Limited Duration Income Fund (NYSE MKT: EVV) (the "Fund"), a closed-end management investment company, today announced the earnings of the Fund for the three months and the nine months ended December 31, 2013. The Fund's fiscal year ends on March 31, 2014.
For the three months ended December 31, 2013, the Fund had net investment income of $33,896,642 ($0.289 per common share). From this amount, the Fund paid dividends on preferred shares of $79,320 (equal to $0.001 for each common share), resulting in net investment income after the preferred dividends of $33,817,322 or $0.288 per common share. For the nine months ended December 31, 2013, the Fund had net investment income of $91,547,704 ($0.779 per common share). From this amount, the Fund paid dividends on preferred shares of $241,526 (equal to $0.002 for each common share), resulting in net investment income after the preferred dividends of $91,306,178 or $0.777 per common share. In comparison, for the three months ended December 31, 2012, the Fund had net investment income of $37,356,388 ($0.318 per common share). From this amount, the Fund paid dividends on preferred shares of $128,618 (equal to $0.001 for each common share), resulting in net investment income after the preferred dividends of $37,227,770 or $0.317 per common share. For the nine months ended December 31, 2012, the Fund had net investment income of $100,879,557 ($0.859 per common share). From this amount, the Fund paid dividends on preferred shares of $378,998 (equal to $0.003 for each common share), resulting in net investment income after the preferred dividends of $100,500,559 or $0.856 per common share.
Net realized and unrealized gains for the three months ended December 31, 2013 were $24,024,939 ($0.212 per common share). The Fund's net realized and unrealized losses for the nine months ended December 31, 2013 were $21,932,770 ($0.187 per common share). In comparison, net realized and unrealized gains for the three months ended December 31, 2012 were $4,977,870 ($0.050 per common share). The Fund's net realized and unrealized gains for the nine months ended December 31, 2012 were $38,211,014 ($0.326 per common share).
On December 31, 2013, net assets of the Fund applicable to common shares were $1,943,271,289. The net asset value per common share on December 31, 2013 was $16.53 based on 117,547,018 common shares outstanding. In comparison, on December 31, 2012, net assets of the Fund applicable to common shares were $1,971,973,615. The net asset value per common share on December 31, 2012 was $16.79 based on 117,454,750 common shares outstanding.
The Fund periodically makes performance data and certain 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 $278.6 billion in assets as of January 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 LIMITED DURATION INCOME FUND
SUMMARY OF RESULTS OF OPERATIONS
(in thousands, except per share amounts)
Three Months
Ended Nine Months Ended
December 31, December 31,
------------ ------------
2013 2012 2013 2012
---- ---- ---- ----
Gross investment income $42,696 $44,943 $115,882 $124,355
Operating expenses (6,366) (5,615) (18,273) (16,967)
Interest expense (2,433) (1,972) (6,061) (6,508)
------ ------ ------ ------
Net investment income $33,897 $37,356 $91,548 $100,880
Net realized and unrealized gains (losses)
on investments $24,025 $4,978 ($21,933) $38,211
Preferred dividends paid from net investment income (79) (129) (242) (379)
Net increase (decrease) in net assets
from operations $57,843 $42,205 $69,373 $138,712
======= ======= ======= ========
Earnings per Common Share Outstanding
-------------------------------------
Gross investment income $0.363 $0.382 $0.986 $1.059
Operating expenses (0.053) (0.048) (0.155) (0.145)
Interest expense (0.021) (0.016) (0.052) (0.055)
------ ------ ------ ------
Net investment income $0.289 $0.318 $0.779 (1) $0.859 (1)
Net realized and unrealized gains (losses)
on investments $0.212 $0.050 ($0.187) $0.326
Preferred dividends paid from net investment income (0.001) (0.001) (0.002) (0.003)
------ ------ ------ ------
Net increase (decrease) in net assets
from operations $0.500 $0.367 $0.590 $1.182
====== ====== ====== ======
Net investment income $0.289 $0.318 $0.779 $0.859
Preferred dividends paid from net investment income (0.001) (0.001) (0.002) (0.003)
------ ------ ------ ------
Net investment income after preferred dividends $0.288 $0.317 $0.777 $0.856
====== ====== ====== ======
Net Asset Value at December 31 (Common Share)
--------------------------------------------
Net assets (000) $1,943,271 $1,971,974
Shares outstanding (000) 117,547 117,455
Net asset value per share outstanding $16.53 $16.79
Market Value Summary (Common Share)
----------------------------------
Market price on NYSE MKT at December 31 $15.30 $16.94
High market price (nine months ended December
31) $17.67 $17.38
Low market price (nine months ended December 31) $14.50 $15.69
(1) Estimated net investment income per share, calculated on a federal income tax basis, for the nine months ended
December 31, 2013 and December 31, 2012, was $0.901 and $0.909, respectively.
SOURCE Eaton Vance Management
