Eaton Vance Municipal Income Trust Reports Earnings Results for the Third Quarter and Nine Months Ended August 31, 2013
November 26, 2013 at 09:00 pm
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Eaton Vance Municipal Income Trust reported earnings results for the third quarter and nine months ended August 31, 2013. For the quarter, the company's net investment income was $5,110,000 or $0.222 per common share against $5,089,000 or $0.223 per common share a year ago. Net realized and unrealized losses on investments were $59,233,000 or $2.594 per common share against net realized and unrealized gain on investments of $10,359,000 or $0.452 per common share a year ago. Preferred dividends paid from net investment income were $36,000 or $0.001 per common share against $78,000 or $0.004 per common share a year ago. Net decrease in net assets from operations was $54,159,000 or $2.373 per common share against net increase in net assets from operations of $15,370,000 or $0.671 per common share a year ago. Net investment income after the preferred dividends of $5,072,854, or $0.221 per common share against $0.219 per common share reported last year.
For the nine months, the company's net investment income was $15,200,000 or $0.664 per common share against $15,404,000 or $0.676 per common share a year ago. Net realized and unrealized losses on investments were $76,904,000 or $3.370 per common share against net realized and unrealized gain on investments of $43,798,000 or $1.922 per common share a year ago. Preferred dividends paid from net investment income were $168,000 or $0.007 per common share against $222,000 or $0.010 per common share a year ago. Net decrease in net assets from operations was $61,872,000 or $2.713 per common share against net increase in net assets from operations of $58,980,000 or $2.588 per common share a year ago. On August 31, 2013, net assets of the Trust applicable to common shares were $228,995,638 or $9.95 per share against $286,906,190 or $12.58 per share reported last year. Net investment income after the preferred dividends of $0.657 per common share against $0.666 per common share reported last year.
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.