EATON VANCE SENIOR FLOATING-RATE TRUST BOSTON, May 15, 2015 /PRNewswire/ -- Eaton Vance Senior Floating-Rate Trust (NYSE: EFR) (the "Trust"), a diversified closed-end management investment company, today announced the earnings of the Trust for the three months ended January 31, 2015. The Trust's fiscal year ends on October 31, 2015.
For the three months ended January 31, 2015, the Trust had net investment income of $8,673,790 ($0.235 per common share). From this amount, the Trust paid dividends on preferred shares of $48,714 (equal to $0.001 for each common share), resulting in net investment income after the preferred dividends of $8,625,076 or $0.234 per common share. In comparison, for the three months ended January 31, 2014, the Trust had net investment income of $10,753,067 ($0.291 per common share). From this amount, the Trust paid dividends on preferred shares of $33,788 (equal to $0.001 for each common share), resulting in net investment income after the preferred dividends of $10,719,279 or $0.290 per common share.
Net realized and unrealized losses for the three months ended January 31, 2015 were $11,944,614 ($0.324 per common share). In comparison, net realized and unrealized gains for the three months ended January 31, 2014 were $843,680 ($0.023 per common share).
On January 31, 2015, net assets of the Trust were $552,907,423. The net asset value per common share on January 31, 2015 was $15.01 based on 36,841,535 common shares outstanding. In comparison, on January 31, 2014, net assets of the Trust were $582,980,814. The net asset value per common share on January 31, 2014 was $15.82 based on 36,841,535 common shares outstanding.
The Trust periodically makes certain performance data and information about portfolio characteristics available on www.eatonvance.com (on the fund information page under "Individual Investors - Closed-End Funds"). Trust portfolio holdings for the most recent month-end are also posted to the website approximately 30 days following month-end.
The Trust 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 $303.4 billion in assets as of March 31, 2015 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 SENIOR FLOATING-RATE TRUST
SUMMARY OF RESULTS OF OPERATIONS
(in thousands, except per share amounts)
Three Months Ended
January 31,
-----------
2015 2014
---- ----
Gross investment income $11,207 $13,348
Operating expenses (1,950) (2,017)
Interest expense (583) (578)
---- ----
Net investment income $8,674 $10,753
Net realized and unrealized gains (losses)
on investments $(11,945) $844
Preferred dividends paid from net investment income (49) (34)
--- ---
Net increase (decrease) in net
assets
from operations $(3,320) $11,563
Earnings per Common Share Outstanding
-------------------------------------
Gross investment income $0.304 $0.362
Operating expenses (0.053) (0.055)
Interest expense (0.016) (0.016)
------ ------
Net investment income $0.235 $0.291
Net realized and unrealized gains (losses)
on investments $(0.324) $0.023
Preferred dividends paid from net investment income (0.001) (0.001)
------ ------
Net increase (decrease) in net
assets
from operations $(0.090) $0.313
Net investment income $0.235 $0.291
Preferred dividends paid from net investment income (0.001) (0.001)
------ ------
Net investment income after preferred dividends $0.234 $0.290
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Net Asset Value at January 31 (Common Shares)
--------------------------------------------
Net assets $552,907 $582,981
Shares outstanding 36,842 36,842
Net asset value per share
outstanding $15.01 $15.82
Market Value Summary (Common Shares)
-----------------------------------
Market price on NYSE at January
31 $13.53 $15.07
High market price (period ended
January 31) $14.14 $15.71
Low market price (period ended
January 31) $13.37 $15.00
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SOURCE Eaton Vance Management
