Eaton Vance Municipal Income Trust Announces Financial Results for the Fourth Quarter and Year Ended November 30, 2013
February 14, 2014 at 03:04 pm EST
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Eaton Vance Municipal Income Trust announced financial results for the fourth quarter and year ended November 30, 2013. For the quarter, the company reported net investment income of $5.065 million or $0.221 per share against $5.222 million or $0.229 per share a year ago. Net realized and unrealized gains on investments were $13.592 million or $0.592 against $18.032 million or $0.793 per share a year ago. Net increase in net assets from operations was $18.621 million or $0.811 per share against $23.169 million or $1.019 per share a year ago.
For the year, the company reported net investment income of $20.265 million or $0.885 per share against $20.626 million or $0.905 per share a year ago. Net realized and unrealized loss on investments was $63.312 million or $2.778 per share against net realized and unrealized gains on investments of $61.830 million or $2.715 per share a year ago. Net decrease in net assets from operations was $43.251 million or $1.902 per share against net increase in net assets from operations of $82.149 million or $3.607 per share a year ago. The net asset value per common share on November 30, 2013 was $10.54 based on 23,362,186 common shares outstanding. The net asset value per common share on November 30, 2012 was $13.36 based on 22,804,327 common shares outstanding.
Eaton Vance Municipal Income Trust (the Fund) is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income exempt from regular federal income tax. During normal market conditions, substantially all of the Fund's total assets (at least 80%) will be invested in debt obligations issued by or on behalf of states, territories and possessions of the United States, and the District of Columbia and their political subdivisions, agencies or instrumentalities, the interest on which is exempt from regular federal income tax (municipal obligations). At least 65% of the Fund's total assets will normally be invested in municipal obligations rated at least investment grade at the time of investment, or, if unrated, determined by Eaton Vance Management (EVM) to be of at least investment grade quality. The Fund invests in various sectors, such as education, hospital, electric utilities and housing. The Fund's investment adviser is EVM.
EATON VANCE MUNICIPAL INCOME TRUST 
