Eaton Vance Insured Massachusetts Municipal Bond Fund Report of Earnings
16 December 2009 - 3:20AM
PR Newswire (US)
BOSTON, Dec. 15 /PRNewswire-FirstCall/ -- Eaton Vance Insured
Massachusetts Municipal Bond Fund (NYSE Amex: MAB) (the "Fund"), a
closed-end management investment company, today announced the
earnings of the Fund for the three months and year ended September
30, 2009. The Fund's fiscal year ended on September 30, 2009. For
the three months ended September 30, 2009, the Fund had net
investment income of $366,756 ($0.209 per common share). From this
amount, the Fund paid dividends on preferred shares of $16,007
(equal to $0.009 for each common share), resulting in net
investment income after the preferred dividends of $350,749, or
$0.200 per common share. The Fund's net investment income for the
year ended September 30, 2009 was $1,583,454 ($0.901 per common
share, before deduction of the preferred share dividends totaling
$0.099 per common share), resulting in net investment income after
the preferred dividends of $0.802 per common share. In comparison,
for the three months ended September 30, 2008, the Fund had net
investment income of $416,022 ($0.237 per common share). From this
amount, the Fund paid dividends on preferred shares of $124,849
(equal to $0.071 for each common share), resulting in net
investment income after the preferred dividends of $291,173, or
$0.166 per common share. The Fund's net investment income for the
year ended September 30, 2008 was $1,722,538 ($0.981 per common
share, before deduction of the preferred share dividends totaling
$0.289 per common share), resulting in net investment income after
the preferred dividends of $0.692 per common share. Net realized
and unrealized gains for the three months ended September 30, 2009
were $3,823,648 ($2.181 per common share). The Fund's net realized
and unrealized gains for the year ended September 30, 2009 were
$4,360,236 ($2.486 per common share). In comparison, net realized
and unrealized losses for the three months ended September 30, 2008
were $3,126,244 ($1.780 per common share). The Fund's net realized
and unrealized losses for the year ended September 30, 2008 were
$5,234,775 ($2.981 per common share). On September 30, 2009, net
assets of the Fund applicable to common shares were $25,770,589.
The net asset value per common share on September 30, 2009 was
$14.66 based on 1,758,401 common shares outstanding. In comparison,
on September 30, 2008, net assets of the Fund applicable to common
shares were $21,310,812. The net asset value per common share on
September 30, 2008 was $12.13 based on 1,756,566 common shares
outstanding. The Funds are 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
$154.9 billion in assets as of October 31, 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 INSURED MASSACHUSETTS
MUNICIPAL BOND FUND SUMMARY OF RESULTS OF OPERATIONS (in thousands,
except per share amounts) Three Months Ended Year Ended September
30, September 30, ------------- ------------- 2009 2008 2009 2008
---- ---- ---- ---- Net investment income $367 $416 $1,583 $1,723
Net realized and unrealized gains (losses) on investments 3,824
(3,126) 4,360 (5,235) Preferred dividends paid from net investment
income (16) (125) (174) (508) --- ---- ---- ---- Net increase
(decrease) in net assets from operations $4,175 $(2,835) $5,769
$(4,020) ====== ======= ====== ======= Earnings per Common Share
Outstanding ------------- Net investment income $0.209 $0.237
$0.901 $0.981 Net realized and unrealized gains (losses) on
investments 2.181 (1.780) 2.486 (2.981) Preferred dividends paid
from net investment income (0.009) (0.071) (0.099) (0.289) ------
------ ------ ------ Net increase (decrease) in net assets from
operations $2.381 $(1.614) $3.288 $(2.289) ====== ======= ======
======= Net investment income $0.209 $0.237 $0.901 $0.981 Preferred
dividends paid from net investment income (0.009) (0.071) (0.099)
(0.289) ------ ------ ------ ------ Net investment income after
preferred dividends $0.200 $0.166 $0.802 $0.692 ====== ======
====== ====== Net Asset Value at September 30 (Common Shares)
---------------- Net assets $25,771 $21,311 Shares outstanding
1,758 1,757 Net asset value per share outstanding $14.66 $12.13
Market Value Summary (Common Shares) ---------------- Market price
on NYSE Amex at September 30 $15.25 $13.78 High market price
(period ended September 30) $15.25 $15.77 Low market price (period
ended September 30) $9.34 $13.38 DATASOURCE: Eaton Vance Management
CONTACT: Investors, Eaton Vance Management, +1-800-262-1122 Web
Site: http://www.eatonvance.com/
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