BOSTON, Feb. 10 /PRNewswire/ -- Eaton Vance Management today disclosed certain data for the Eaton Vance closed-end municipal bond funds (the "Funds"):
Earnings per Common Share - The average monthly net investment income per common share (after payment of preferred dividends) for the three months ended December 31, 2008;
Dividend per Common Share - The monthly dividend per common share paid in December 2008;
Undistributed Net Investment Income (UNII) per Common Share - The average balance at month end of undistributed net investment income per common share (net of pending distributions) for the three months ended December 31, 2008; and
Leverage - The ratio of outstanding auction rate preferred shares (a source of the Funds' financial leverage) ("APS") to total assets as of December 31, 2008. The leverage percentage quoted refers only to the ratio involving a Fund's APS outstanding on December 31, 2008. During 2008, three of the Funds redeemed their APS in full while many other have redeemed their APS in part. Replacement financing for these Funds has been provided by the creation of Tender Option Bond trusts. Please see the relevant press releases at http://www.eatonvance.com/ for further details on these changes.
Earnings and UNII will fluctuate over time due to fund activity and /or market factors.
For more information about a Fund, please see the Funds' annual and semi annual shareholder reports or contact your financial adviser. In addition, Eaton Vance Management will make available periodic summary information regarding portfolio investments. Those interested should call Eaton Vance at (800) 262-1122.
The Funds are managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp. , 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 $124.9 billion in assets as of December 31, 2008, 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/.
Closed-End Fund Earnings Data December 31, 2008 Earnings and UNII are 3 month averages unless indicated 3 Month Avg. December 3 Month Earnings Dividend Avg. Fund Ticker /Share /Share UNII/Share Leverage* Eaton Vance Municipal Income Trust EVN $0.0651 $0.07000 $0.0467 44.70% Eaton Vance Insured Municipal Bond Fund EIM $0.0604 $0.06508 $0.0721 + Eaton Vance Insured Municipal Bond Fund II EIV $0.0608 $0.06504 $0.0986 33.80% Eaton Vance California Municipal Income Trust CEV $0.0535 $0.05717 (0.0031) 42.40% Eaton Vance Insured California Municipal Bond Fund EVM $0.0595 $0.06033 $0.0478 + Eaton Vance Insured California Municipal Bond Fund II EIA $0.0528 $0.05842 $0.0411 41.6% Eaton Vance National Municipal Income Trust FEV $0.0651 $0.05800 ($0.0059) 36.20% Eaton Vance Massachusetts Municipal Income Trust MMV $0.0564 $0.05575 $0.0607 42.50% Eaton Vance Insured Massachusetts Municipal Bond Fund MAB $0.0552 $0.05692 $0.0124 41.30% Eaton Vance Michigan Municipal Income Trust EMI $0.0566 $0.05175 $0.0188 43.80% Eaton Vance Insured Michigan Municipal Bond Fund MIW $0.0525 $0.05649 $0.0376 43.30% Eaton Vance New Jersey Municipal Income Trust EVJ $0.0565 $0.05583 $0.0701 44.10% Eaton Vance Insured New Jersey Municipal Bond Fund EMJ $0.0563 $0.06125 $0.0756 42.90% Eaton Vance New York Municipal Income Trust EVY $0.0602 $0.06200 $0.0089 41.7% Eaton Vance Insured New York Municipal Bond Fund ENX $0.0586 $0.05883 $0.0046 + Eaton Vance Insured New York Municipal Bond Fund II NYH $0.0549 $0.05892 $0.1104 35.40% Eaton Vance Ohio Municipal Income Trust EVO $0.0584 $0.05509 $0.0405 44.10% Eaton Vance Insured Ohio Municipal Bond Fund EIO $0.0518 $0.05350 $0.0064 42.80% Eaton Vance Pennsylvania Municipal Income Trust EVP $0.0583 $0.05708 $0.0321 44.20% Eaton Vance Insured Pennsylvania Municipal Bond Fund EIP $0.0568 $0.05917 $0.0714 44.00%
*Based on total assets. Leverage achieved through the issuance of APS. Use of financial leverage creates an opportunity for increased income, but at the same time creates special risks (including the likelihood of greater volatility of net asset value and market prices of common shares).
Please see note above entitled "Leverage" for further information on these percentages.
+ Beginning in May 2008 through August 2008, the Fund redeemed in full its APS.
Each Municipal Income Trust paid a monthly dividend on December 17, 2008 to shareholders of record on December 10, 2008. Each Insured Municipal Bond Fund paid a monthly dividend on December 31, 2008 to shareholders of record on December 24, 2008. As portfolio and market conditions change, the rate of future distributions may change.
