BOSTON, July 21, 2011 /PRNewswire/ -- Eaton Vance
Floating-Rate Income Trust (NYSE: EFT) (the "Fund"), a closed-end
management investment company, today announced the earnings of the
Fund for the three months and the fiscal year ended May 31, 2011.
For the three months ended May 31,
2011, the Fund had net investment income of $9,357,579 ($0.249
per common share). From this amount, the Fund paid dividends
on preferred shares of $299,838
(equal to $0.008 for each common
share), resulting in net investment income after the preferred
dividends of $9,057,741 or
$0.241 per common share. For
the year ended May 31, 2011, the Fund
had net investment income of $37,113,803 ($0.991
per common share). From this amount, the Fund paid dividends
on preferred shares of $1,225,305
(equal to $0.033 for each common
share), resulting in net investment income after the preferred
dividends of $35,888,498 or
$0.958 per common share. In
comparison, for the three months ended May
31, 2010, the Fund had net investment income of $9,879,937 ($0.264
per common share). From this amount, the Fund paid dividends
on preferred shares of $307,624
(equal to $0.008 for each common
share), resulting in net investment income after the preferred
dividends of $9,572,313 or
$0.256 per common share. For
the year ended May 31, 2010, the Fund
had net investment income of $37,701,615 ($1.008
per common share). From this amount, the Fund paid dividends
on preferred shares of $1,640,529
(equal to $0.044 for each common
share), resulting in net investment income after the preferred
dividends of $36,061,086 or
$0.964 per common share.
Net realized and unrealized losses for the three months ended
May 31, 2011 were $2,500,037 ($0.064
per common share). The Fund's net realized and unrealized
gains for the year ended May 31, 2011
were $40,409,778 ($1.082 per common share). In comparison,
net realized and unrealized gains for the three months ended
May 31, 2010 were $2,601,739 ($0.074
per common share). The Fund's net realized and unrealized gains for
the year ended May 31, 2010 were
$129,456,831 ($3.468 per common share).
On May 31, 2011, net assets of the
Fund applicable to common shares were $595,889,843. The net asset value per
common share on May 31, 2011 was
$15.90 based on 37,480,847 common
shares outstanding. In comparison, on May 31, 2010, net assets of the Fund applicable
to common shares were $556,610,855.
The net asset value per common share on May 31, 2010 was $14.88 based on 37,405,571 common shares
outstanding.
The Fund 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"). Fund portfolio holdings for the
most recent calendar quarter-end are also posted to the website
approximately 30 days following quarter-end.
The Fund 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 $200.0 billion
in assets as of June 30, 2011,
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
FLOATING-RATE INCOME TRUST
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SUMMARY OF
RESULTS OF OPERATIONS
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(in
thousands, except per share amounts)
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Three Months
Ended
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Year
Ended
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May
31,
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May
31,
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2011
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2010
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2011
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2010
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Gross investment
income
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$12,002
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$12,414
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$47,887
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$46,799
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Operating expenses
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(1,775)
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(1,584)
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(7,001)
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(5,996)
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Interest expense
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(869)
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(950)
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(3,772)
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(3,101)
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Net investment income
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$9,358
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$9,880
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$37,114
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$37,702
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Net realized and unrealized
gains (losses)
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on investments
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($2,500)
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$2,602
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$40,410
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$129,457
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Preferred dividends paid from
net investment income
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(300)
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(308)
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(1,225)
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(1,641)
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Net increase (decrease) in net
assets
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from operations
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$6,558
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$12,174
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$76,299
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$165,518
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Earnings per Common Share
Outstanding
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Gross investment
income
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$0.320
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$0.331
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$1.279
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$1.251
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Operating expenses
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(0.047)
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(0.042)
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(0.187)
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(0.160)
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Interest expense
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(0.024)
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(0.025)
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(0.101)
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(0.083)
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Net investment income
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$0.249
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$0.264
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$0.991
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$1.008
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Net realized and unrealized
gains (losses)
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on investments
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($0.064)
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$0.074
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$1.082
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$3.468
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Preferred dividends paid from
net investment income
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(0.008)
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(0.008)
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(0.033)
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(0.044)
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Net increase (decrease) in net
assets
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from operations
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$0.177
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$0.330
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$2.040
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$4.432
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Net investment income
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$0.249
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$0.264
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$0.991
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$1.008
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Preferred dividends paid from
net investment income
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(0.008)
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(0.008)
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(0.033)
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(0.044)
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Net investment income after
preferred dividends
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$0.241
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$0.256
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$0.958
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$0.964
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Net Asset Value at May 31
(Common Share)
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Net assets (000)
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$595,890
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$556,611
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Shares outstanding
(000)
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37,481
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37,406
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Net asset value per share
outstanding
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$15.90
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$14.88
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Market Value Summary (Common
Share)
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Market price on NYSE at May
31
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$16.39
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$14.35
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High market price (year ended
May 31)
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$17.50
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$16.46
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Low market price (year ended May
31)
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$14.31
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$10.24
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SOURCE Eaton Vance Management