Eaton Vance National Municipal Income Trust Report of Earnings
12 February 2009 - 8:09AM
PR Newswire (US)
BOSTON, Feb. 11 /PRNewswire-FirstCall/ -- Eaton Vance National
Municipal Income Trust (NYSE Alternext US: FEV) (the "Trust"), a
closed-end management investment company, today announced the
earnings of the Trust for the three months and year ended November
30, 2008. The Trust's fiscal year ended on November 30, 2008. For
the three months ended November 30, 2008, the Trust had net
investment income of $903,052 ($0.212 per common share). From this
amount, the Trust paid dividends on preferred shares of $227,900
(equal to $0.054 for each common share), resulting in net
investment income after the preferred dividends of $675,152, or
$0.158 per common share. The Trust's net investment income for the
year ended November 30, 2008 was $3,876,950 ($0.911 per common
share, before deduction of the preferred share dividends totaling
$0.250 per common share), resulting in net investment income after
the preferred dividends of $0.661 per common share. In comparison,
for the three months ended November 30, 2007, the Trust had net
investment income of $1,003,409 ($0.236 per common share). From
this amount, the Trust paid dividends on preferred shares of
$332,173 (equal to $0.078 for each common share), resulting in net
investment income after the preferred dividends of $671,236, or
$0.158 per common share. The Trust's net investment income for the
year ended November 30, 2007 was $4,018,334 ($0.944 per common
share, before deduction of the preferred share dividends totaling
$0.307 per common share), resulting in net investment income after
the preferred dividends of $0.637 per common share. Net realized
and unrealized losses for the three months ended November 30, 2008
were $18,858,599 ($4.430 per common share). The Trust's net
realized and unrealized losses for the year ended November 30, 2008
were $25,306,638 ($5.945 per common share). In comparison, net
realized and unrealized gains for the three months ended November
30, 2007 were $155,831 ($0.033 per common share). The Trust's net
realized and unrealized losses for the year ended November 30, 2007
were $4,449,917 ($1.049 per common share). On November 30, 2008,
net assets of the Trust applicable to common shares were
$37,472,156. The net asset value per common share on November 30,
2008 was $8.80 based on 4,257,408 common shares outstanding. In
comparison, on November 30, 2007, net assets of the Trust
applicable to common shares were $62,757,015. The net asset value
per common share on November 30, 2007 was $14.74 based on 4,257,408
common shares outstanding. 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 $124.9 billion in assets as of December 31, 2008
offering individuals and institutions a broad array of financial
products and wealth solutions including mutual funds, managed
accounts, variable trusts and charitable giving services. A
combination of tradition, proven long-term performance and more
than 80 years of experience have made Eaton Vance the investment
manager of choice for many investors. For more information about
Eaton Vance, visit http://www.eatonvance.com/. EATON VANCE NATIONAL
MUNICIPAL INCOME TRUST SUMMARY OF RESULTS OF OPERATIONS (in
thousands, except per share amounts) Three Months Ended Year Ended
November 30, November 30, ------------ ------------ 2008 2007 2008
2007 ---- ---- ---- ---- Net investment income $903 $1,003 $3,877
$4,018 Net realized and unrealized gains (losses) on investments
(18,859) 156 (25,307) (4,450) Preferred dividends paid from net
investment income (1) (228) (332) (1,062) (1,306) ---- ---- ------
------ Net increase (decrease) in net assets from operations
$(18,184) $827 $(22,492) $(1,738) ======== ==== ======== =======
Earnings per Common Share Outstanding
------------------------------------- Net investment income $0.212
$0.236 $0.911 $0.944 Net realized and unrealized gains (losses) on
investments (4.430) 0.033 (5.945) (1.049) Preferred dividends paid
from net investment income (1) (0.054) (0.078) (0.250) (0.307)
------ ------ ------ ------ Net increase (decrease) in net assets
from operations $(4.272) $0.191 $(5.284) $(0.412) ======= ======
======= ======= Net investment income $0.212 $0.236 $0.911 $0.944
Preferred dividends paid from net investment income (1) (0.054)
(0.078) (0.250) (0.307) ------ ------ ------ ------ Net investment
income after preferred dividends $0.158 $0.158 $0.661 $0.637 ======
====== ====== ====== Net Asset Value at November 30 (Common Shares)
--------------- Net assets $37,472 $62,757 Shares outstanding 4,257
4,257 Net asset value per share outstanding $8.80 $14.74 Market
Value Summary (Common Shares) ------------------------------------
Market price on NYSE Alternext US at November 30 $7.64 $12.72 High
market price (period ended November 30) $13.30 $14.50 Low market
price (period ended November 30) $7.01 $12.49 (1) During the year
ended November 30, 2008, the Trust made a partial redemption of its
preferred shares. DATASOURCE: Eaton Vance Management CONTACT:
Investors, +1-800-262-1122 Web Site: http://www.eatonvance.com/
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