EFT Eaton Vance Floating Rate Income Trust

BOSTON, Jan. 18, 2011 /PRNewswire/ -- 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 and the six months ended November 30, 2010.  The Trust's fiscal year ends on May 31, 2011.

For the three months ended November 30, 2010, the Trust had net investment income of $9,048,107 ($0.241 per common share).  From this amount, the Trust paid dividends on preferred shares of $303,944 (equal to $0.008 for each common share), resulting in net investment income after the preferred dividends of $8,744,163 or $0.233 per common share.  For the six months ended November 30 2010, the Trust had net investment income of $18,424,298 ($0.492 per common share).  From this amount, the Trust paid dividends on preferred shares of $624,117 (equal to $0.017 for each common share), resulting in net investment income after the preferred dividends of $17,800,181 or $0.475 per common share.  In comparison, for the three months ended November 30, 2009, the Trust had net investment income of $9,397,600 ($0.252 per common share).  From this amount, the Trust paid dividends on preferred shares of $469,779 (equal to $0.013 for each common share), resulting in net investment income after the preferred dividends of $8,927,821 or $0.239 per common share.  For the six months ended November 30, 2009, the Trust had net investment income of $18,679,408 ($0.500 per common share).  From this amount, the Trust paid dividends on preferred shares of $1,038,952 (equal to $0.028 for each common share), resulting in net investment income after the preferred dividends of $17,640,456, or $0.472 per common share.    

Net realized and unrealized gains for the three months ended November 30, 2010 were $20,510,716 ($0.552 per common share).  The Trust's net realized and unrealized gains for the six months ended November 30, 2010 were $21,868,182 ($0.588 per common share).  In comparison, net realized and unrealized gains for the three months ended November 30, 2009 were $24,461,382 ($0.663 per common share).  The Trust's net realized and unrealized gains for the six months ended November 30, 2009 were $93,831,661 ($2.519 per common share).  

On November 30, 2010, net assets of the Trust applicable to common shares were $577,636,390.  The net asset value per common share on November 30, 2010 was $15.43 based on 37,442,168 common shares outstanding. In comparison, on November 30, 2009, net assets of the Trust applicable to common shares were $521,634,939. The net asset value per common share on November 30, 2009 was $13.96 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 $185.2 billion in assets as of October 31, 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