News Column

Eaton Vance Floating-Rate Income Trust Report Of Earnings

August 23, 2014



By a News Reporter-Staff News Editor at Investment Weekly News -- Eaton Vance Floating-Rate Income Trust (NYSE: EFT) (the "Fund"), a closed-end management investment company, announced the earnings of the Fund for the three months and the fiscal year ended May 31, 2014.

For the three months ended May 31, 2014, the Fund had net investment income of $8,488,413 ($0.213 per common share). The net investment income includes a deduction of $336,394 ($0.009 per common share) representing interest expense paid on Variable Rate Term Preferred Shares (VRTP Shares). For the year ended May 31, 2014, the Fund had net investment income of $35,402,265 ($0.889 per common share). The net investment income includes a deduction of $1,340,638 ($0.034 per common share) representing interest expense paid on VRTP Shares. In comparison, for the three months ended May 31, 2013, the Fund had net investment income of $9,431,751 ($0.241 per common share). The net investment income includes a deduction of $339,899 ($0.009 per common share) representing interest expense paid on VRTP Shares. For the year ended May 31, 2013, the Fund had net investment income of $40,138,873 ($1.058 per common share). From this amount, the Fund paid dividends on Auction Preferred Shares (APS) of $915,192 (equal to $0.024 for each common share), resulting in net investment income after the preferred dividends of $39,223,681 or $1.034 per common share. The net investment income includes a deduction of $613,427 ($0.016 per common share) representing interest expense paid on VRTP Shares.

Net realized and unrealized losses for the three months ended May 31, 2014 were $4,018,827 ($0.100 per common share). The Fund's net realized and unrealized losses for the year ended May 31, 2014 were $5,815,833 ($0.145 per common share). In comparison, net realized and unrealized gains for the three months ended May 31, 2013 were $2,776,424 ($0.076 per common share). The Fund's net realized and unrealized gains for the year ended May 31, 2013 were $26,502,034 ($0.707 per common share).

On May 31, 2014, net assets of the Fund applicable to common shares were $641,079,081. The net asset value per common share on May 31, 2014 was $16.08 based on 39,863,690 common shares outstanding. In comparison, on May 31, 2013, net assets of the Fund applicable to common shares were $646,842,386. The net asset value per common share on May 31, 2013 was $16.30 based on 39,673,357 common shares outstanding.

The Fund periodically makes performance data and certain information about portfolio characteristics available on www.eatonvance.com (on the fund information page under "Individual Investors - Closed-End Funds"). Fund portfolio holdings for the most recent month-end are also posted to the website approximately 30 days following month-end.

The Fund 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 $293.6 billion in assets as of June 30, 2014, 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 www.eatonvance.com.

EATON VANCE FLOATING-RATE INCOME TRUST

SUMMARY OF RESULTS OF OPERATIONS

(in thousands, except per share amounts)

Keywords for this news article include: Finance, Eaton Vance Management.

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Source: Investment Weekly News


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