Eaton Vance Municipal Income Trust Reports Earnings Results for the Second Quarter and Six Months Ended May 31, 2013
August 06, 2013 at 08:44 pm
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Eaton Vance Municipal Income Trust reported earnings results for the second quarter and six months ended May 31, 2013. For the quarter, the company's net investment income was $5,056,000 or $0.221 per common share against $5,109,000 or $0.224 per common share a year ago. Net realized and unrealized losses on investments were $12,705,000 or $0.558 per common share against net realized and unrealized gain on investments of $1,835,000 or $0.083 per common share a year ago. Preferred dividends paid from net investment income were $76,000 or $0.004 per common share against $91,000 or $0.004 per common share a year ago. Net decrease in net assets from operations was $7,725,000 or $0.341 per common share against net increase in net assets from operations of $6,853,000 or $0.303 per common share a year ago.
For the six months, the company's net investment income was $10,090,000 or $0.442 per common share against $10,315,000 or $0.453 per common share a year ago. Net realized and unrealized losses on investments were $17,671,000 or $0.776 per common share against net realized and unrealized gain on investments of $33,439,000 or $1.470 per common share a year ago. Preferred dividends paid from net investment income were $132,000 or $0.006 per common share against $144,000 or $0.006 per common share a year ago. Net decrease in net assets from operations was $7,713,000 or $0.340 per common share against net increase in net assets from operations of $43,610,000 or $1.917 per common share a year ago. On May 31, 2013, net assets of the trust applicable to common shares were $286,444,388 or $12.55 per common share against $276,755,437 or $12.14 per common share 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.