EF Realisation (LSE:EFR)
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BOSTON, June 26 /PRNewswire-FirstCall/ -- Eaton Vance Senior Floating-Rate Trust (NYSE:EFR) (the "Trust"), a closed-end management investment company, today announced the earnings of the Trust for the three months and six months ended April 30, 2009. The Trust's fiscal year ends on October 31, 2009.
For the three months ended April 30, 2009, the Trust had net investment income of $7,027,700 ($0.209 per common share). From this amount, the Trust paid dividends on preferred shares of $199,774 (equal to $0.006 for each common share), resulting in net investment income after the preferred dividends of $6,827,926 or $0.203 per common share. For the six months ended April 30, 2009, the Trust had net investment income of $16,497,533 ($0.491 per common share). From this amount, the Trust paid dividends on preferred shares of $707,665 (equal to $0.021 for each common share), resulting in net investment income after the preferred dividends of $15,789,868 or $0.470 per common share. In comparison, for the three months ended April 30, 2008, the Trust had net investment income of $15,270,385 ($0.455 per common share). From this amount, the Trust paid dividends on preferred shares of $4,070,994 (equal to $0.121 for each common share), resulting in net investment income after the preferred dividends of $11,199,391 or $0.334 per common share. For the six months ended April 30, 2008, the Trust had net investment income of $33,259,234 ($0.990 per common share). From this amount, the Trust paid dividends on preferred shares of $9,469,161 (equal to $0.282 for each common share), resulting in net investment income after the preferred dividends of $23,790,073 or $0.708 per common share.
Net realized and unrealized gains for the three months ended April 30, 2009 were $45,370,973 ($1.351 per common share) and net realized and unrealized losses for the six months ended April 30, 2009 were $2,584,278 ($0.076 per common share). In comparison, net realized and unrealized losses for the three months ended April 30, 2008 were $15,812,504 ($0.462 per common share). The Trust's net realized and unrealized losses for the six months ended April 30, 2008 were $65,532,512 ($1.942 per common share).
On April 30, 2009, net assets of the Trust applicable to common shares were $340,978,289. The net asset value per common share on April 30, 2009 was $10.14 based on 33,629,955 common shares outstanding. In comparison, on April 30, 2008, net assets of the Trust applicable to common shares were $533,420,998. The net asset value per common share on April 30, 2008 was $15.88 based on 33,600,821 common shares outstanding.
The Trust 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 $127.2 billion in assets as of April 30, 2009, offering individuals and institutions a broad array of investment products 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 http://www.eatonvance.com/.
EATON VANCE SENIOR FLOATING-RATE TRUST
SUMMARY OF RESULTS OF OPERATIONS
(in thousands, except per share amounts)
Three Months Ended Six Months Ended
April 30, April 30,
------------------ ----------------
2009 2008 2009 2008
---- ---- ---- ----
Gross investment income $9,052 $16,945 $21,636 $36,710
Operating expenses (2,024) (1,675) (5,138) (3,451)
------ ------ ----- -----
Net investment income $7,028 $15,270 $16,498 $33,259
Net realized and unrealized
gains (losses) on investments $45,371 ($15,813) ($2,584) ($65,533)
Preferred dividends paid
from net investment income ($200) ($4,071) ($708) ($9,469)
Net increase (decrease) in
net assets from operations $52,199 ($4,614) $13,206 ($41,743)
======= ======= ======= ========
Earnings per Share Outstanding
------------------------------
Gross investment income $0.269 $0.505 $0.644 $1.093
Operating expenses (0.060) (0.050) (0.153) (0.103)
------ ------ ------ ------
Net investment income $0.209 $0.455 $0.491 $0.990
Net realized and unrealized gains
(losses) on investments $1.351 ($0.462) ($0.076) ($1.942)
Preferred dividends paid from
net investment income (0.006) (0.121) (0.021) (0.282)
------ ------ ------ ------
Net increase (decrease) in
net assets from operations $1.554 ($0.128) $0.394 ($1.234)
====== ======= ====== =======
Net investment income $0.209 $0.455 $0.491 $0.990
Preferred dividends paid
from net investment income (0.006) (0.121) (0.021) (0.282)
------ ------ ------ ------
Net investment income after
preferred dividends $0.203 $0.334 $0.470 $0.708
====== ====== ====== ======
Net Asset Value at April 30 (Common Shares)
-------------------------------------------
Net assets (000) $340,978 $533,421
Shares outstanding (000) 33,630 33,601
Net asset value per share
outstanding $10.14 $15.88
Market Value Summary (Common Shares)
------------------------------------
Market price on NYSE
at April 30 $9.62 $14.96
High market price
(period ended April 30) $9.89 $16.07
Low market price
(period ended April 30) $6.79 $13.36
DATASOURCE: Eaton Vance Management
CONTACT: Investor Contact of Eaton Vance Management, +1-800-262-1122
Web Site: http://www.eatonvance.com/