Eaton Vance Municipal Income Trust Reports Earnings Results for the Third Quarter and Nine Months Ended August 31, 2014
November 25, 2014 at 02:31 am IST
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Eaton Vance Municipal Income Trust reported earnings results for the third quarter and nine months ended August 31, 2014. For the quarter, the trust had net investment income of $5,170,000 or $0.219 per common share against $5,110,000 or $0.222 a year ago. Net realized and unrealized gains were $9,709,000 or $0.404 per common share against net realized and unrealized losses of $59,233,000 or $2.594 per common share. Net increase in net assets from operations was $14,846,000 or $0.622 per share against net decreases in net assets from operations of $54,159,000 or $2.373 per share a year ago. Net investment income after the preferred dividends of $5,136,248 or $0.218 per common share against $0.221 per common share reported last year.
For the nine months, the trust's net investment income was $15,726,000 or $0.669 per common share against $15,200,000 or $0.664 per common share a year ago. Net realized and unrealized gains on investments were $49,429,000 against or $2.102 per common share net realized and unrealized loss on investments of $76,904,000 or $3.370 per common share a year ago. Net increase in net assets from operations was $65,056,000 or $2.767 per common share against net decrease in net assets from operations of $61,872,000 or $2.713 per common share a year ago. Net investment income after the preferred dividends of $0.665 per common share against $0.657 per common share reported last year. Net asset value per share as at August 31, 2014 was $12.64 against $9.95 a year ago.
Eaton Vance Municipal Income Trust (the Fund) is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income exempt from regular federal income tax. During normal market conditions, substantially all of the Fund's total assets (at least 80%) will be invested in debt obligations issued by or on behalf of states, territories and possessions of the United States, and the District of Columbia and their political subdivisions, agencies or instrumentalities, the interest on which is exempt from regular federal income tax (municipal obligations). At least 65% of the Fund's total assets will normally be invested in municipal obligations rated at least investment grade at the time of investment, or, if unrated, determined by Eaton Vance Management (EVM) to be of at least investment grade quality. The Fund invests in various sectors, such as education, hospital, electric utilities and housing. The Fund's investment adviser is EVM.