BOSTON, Jan. 3, 2011 /PRNewswire-FirstCall/ -- Eaton Vance Limited Duration Income Fund (NYSE Amex: EVV) (the "Fund"), a closed-end management investment company, today announced the earnings of the Fund for the three months and the six months ended October 31, 2010. The Fund's fiscal year ends on April 30, 2011.
For the three months ended October 31, 2010, the Fund had net investment income of $30,178,692 ($0.257 per common share). From this amount, the Fund paid dividends on preferred shares of $208,343 (equal to $0.002 for each common share), resulting in net investment income after the preferred dividends of $29,970,349 or $0.255 per common share. For the six months ended October 31, 2010, the Fund had net investment income of $65,342,054 ($0.557 per common share). From this amount, the Fund paid dividends on preferred shares of $459,792 (equal to $0.004 per common share), resulting in net investment income after the preferred dividends of $64,882,262 or $0.553 per common share. In comparison, for the three months ended October 31, 2009, the Fund had net investment income of $28,682,814 ($0.255 per common share). From this amount, the Fund paid dividends on preferred shares of $190,539 (equal to $0.002 for each common share), resulting in net investment income after the preferred dividends of $28,492,275 or $0.253 per common share. For the six months ended October 31, 2009, the Fund had net investment income of $65,891,829 ($0.586 per common share). From this amount, the Fund paid dividends on preferred shares of $466,414 (equal to $0.004 per common share), resulting in net investment income after the preferred dividends of $65,425,415, or $0.582 per common share.
Net realized and unrealized gains for the three months ended October 31, 2010 were $63,309,877 ($0.542 per common share). The Fund's net realized and unrealized gains for the six months ended October 31, 2010 were $48,121,405 ($0.412 per common share). In comparison, net realized and unrealized gains for the three months ended October 31, 2009 were $110,500,465 ($0.981 per common share). The Fund's net realized and unrealized gains for the six months ended October 31, 2009 were $321,598,929 ($2.858 per common share).
On October 31, 2010, net assets of the Fund applicable to common shares were $1,982,645,324. The net asset value per common share on October 31, 2010 was $16.90 based on 117,344,155 common shares outstanding. In comparison, on October 31, 2009, net assets of the Fund applicable to common shares were $1,770,903,755. The net asset value per common share on October 31, 2009 was $15.75 based on 112,462,747 common shares outstanding.
The Fund is 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 $185.2 billion in assets as of October 31, 2010, offering individuals and institutions a broad array of investment strategies 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 LIMITED DURATION INCOME FUND SUMMARY OF RESULTS OF OPERATIONS (in thousands, except per share amounts) Three Months Ended October 31, 2010 2009 ---- ---- Gross investment income $39,324 $37,326 Operating expenses (5,901) (4,011) Interest expense (3,244) (4,632) Net investment income $30,179 $28,683 Net realized and unrealized gains (losses) on investments $63,310 $110,500 Preferred dividends paid from net investment income (208) (191) Net increase (decrease) in net assets from operations $93,281 $138,992 ======= ======== Earnings per Common Share Outstanding ------------------- Gross investment income $0.335 $0.332 Operating expenses (0.050) (0.036) Interest expense (0.028) (0.041) Net investment income $0.257 $0.255 Net realized and unrealized gains (losses) on investments $0.542 $0.981 Preferred dividends paid from net investment income (0.002) (0.002) ------ ------ Net increase (decrease) in net assets from operations $0.797 $1.234 ====== ====== Net investment income $0.257 $0.255 Preferred dividends paid from net investment income (0.002) (0.002) ------ ------ Net investment income after preferred dividends $0.255 $0.253 ====== ====== Net Asset Value at October 31 (Common Share ) ------------------- Net assets (000) Shares outstanding (000) Net asset value per share outstanding Market Value Summary (Common Share ) -------------------- Market price on NYSE Amex at October 31 High market price (six months ended October 31) Low market price (six months ended October 31) Six Months Ended October 31, 2010 2009 ---- ---- Gross investment income $82,742 $84,275 Operating expenses (11,080) (8,129) Interest expense (6,320) (10,254) Net investment income $65,342 $65,892 Net realized and unrealized gains (losses) on investments $48,121 $321,599 Preferred dividends paid from net investment income (460) (466) Net increase (decrease) in net assets from operations $113,003 $387,025 ======== ======== Earnings per Common Share Outstanding ------------------- Gross investment income $0.705 $0.749 Operating expenses (0.094) (0.072) Interest expense (0.054) (0.091) Net investment income $0.557 (1) $0.586 (1) Net realized and unrealized gains (losses) on investments $0.412 $2.858 Preferred dividends paid from net investment income (0.004) (0.004) ------ ------ Net increase (decrease) in net assets from operations $0.965 $3.440 ====== ====== Net investment income $0.557 $0.586 Preferred dividends paid from net investment income (0.004) (0.004) ------ ------ Net investment income after preferred dividends $0.553 $0.582 ====== ====== Net Asset Value at October 31 (Common Share ) ------------------- Net assets (000) $1,982,645 $1,770,904 Shares outstanding (000) 117,344 112,463 Net asset value per share outstanding $16.90 $15.75 Market Value Summary (Common Share ) -------------------- Market price on NYSE Amex at October 31 $16.68 $13.89 High market price (six months ended October 31) $16.68 $14.79 Low market price (six months ended October 31) $14.88 $11.61 (1) For Federal Income Tax purposes, net investment income per share for the six months ended October 31, 2010 and October 31, 2009, was $0.653 and $0.676, respectively.
Eaton Vance Management
CONTACT: Investor Contact: +1-800-262-1122
Web Site: http://www.eatonvance.com/
