EFT Eaton Vance Floating Rate Income Trust

BOSTON, Oct. 18 /PRNewswire-FirstCall/ -- Eaton Vance Floating-Rate Income Trust (NYSE: EFT) (the "Trust"), a closed-end management investment company, today announced the earnings of the Trust for the three months ended August 31, 2010.  The Trust's fiscal year ends on May 31, 2011.

For the three months ended August 31, 2010, the Trust had net investment income of $9,376,191 ($0.251 per common share).  From this amount, the Trust paid dividends on preferred shares of $320,173 (equal to $0.009 for each common share), resulting in net investment income after the preferred dividends of $9,056,018 or $0.242 per common share.  In comparison, for the three months ended August 31, 2009, the Trust had net investment income of $9,281,808 ($0.248 per common share).  From this amount, the Trust paid dividends on preferred shares of $569,173 (equal to $0.015 for each common share), resulting in net investment income after the preferred dividends of $8,712,635 or $0.233 per common share.    

Net realized and unrealized gains for the three months ended August 31, 2010 were $1,357,466 ($0.036 per common share).  In comparison, net realized and unrealized gains for the three months ended August 31, 2009 were $69,370,279 ($1.856 per common share).

On August 31, 2010, net assets of the Trust applicable to common shares were $557,606,244.  The net asset value per common share on August 31, 2010 was $14.90 based on 37,421,113 common shares outstanding.  In comparison, on August 31, 2009, net assets of the Trust applicable to common shares were $496,639,286.  The net asset value per common share on August 31, 2009 was $13.29 based on 37,378,350 common shares outstanding.

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 $180.7 billion in assets as of September 30, 2010, 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.

SOURCE Eaton Vance Management