Eaton Vance California Municipal Income Trust Reports Earnings Results for the Third Quarter and Nine Months Ended August 31, 2014
November 24, 2014 at 04:01 pm EST
Share
Eaton Vance California Municipal Income Trust reported earnings results for the third quarter and nine months ended August 31, 2014. For the quarter, the trust had net investment income of $1,380,000 or $0.190 per common share against $1,384,000 or $0.191 a year ago. Net realized and unrealized gains were $1,384,000 or $0.189 per common share against net realized and unrealized losses of $13,880,000 or $1.907 per common share. Net increase in net assets from operations was $2,750,000 or $0.377 per share against net decreases in net assets from operations of $12,511,000 or $1.718 per share a year ago. Net investment income after the preferred dividends was 0.188 per common share against $0.189 per common share reported last year.
For the nine months, the trust's net investment income was $4,135,000 or $0.569 per common share against $4,128,000 or $0.569 per common share a year ago. Net realized and unrealized gains on investments were $9,534,000 against or $1.313 per common share net realized and unrealized loss on investments of $18,905,000 or $2.604 per common share a year ago. Net increase in net assets from operations was $13,628,000 or $1.876 per common share against net decrease in net assets from operations of $14,848,000 or $2.045 per common share a year ago. Net investment income after the preferred dividends of $0.563 per common share against $0.569 per common share reported last year. Net asset value per share as at August 31, 2014 was $13.88 against $12.01 a year ago.
Eaton Vance California Municipal Income Trust (the Fund) is a non-diversified, closed-end management investment company. The Fundâs investment objective is to provide current income exempt from regular federal income tax and California state personal income taxes. The Trust may invest in residual interest bonds whereby the Trust may sell a variable or fixed rate bond for cash to a Special-Purpose Vehicle (the SPV), while at the same time, buying a residual interest in the assets and cash flows of the SPV. The Trust invests primarily in debt securities issued by California municipalities. The Fundâs portfolio of investments includes various sectors, including general obligations, insured-education, healthcare, electric utilities, insured-escrowed/prefunded, airport, insured special assessment, special tax, water and sewer, public power, senior living/life care, special assessment and transportation. Eaton Vance Management acts as the Fundâs investment advisor.