EFT Eaton Vance Floating Rate Income Trust

BOSTON, April 23, 2012 /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 nine months ended February 29, 2012.  The Fund's fiscal year ends on May 31, 2012.

For the three months ended February 29, 2012, the Fund had net investment income of $10,334,946 ($0.276 per common share).  From this amount, the Fund paid dividends on preferred shares of $299,316 (equal to $0.008 for each common share), resulting in net investment income after the preferred dividends of $10,035,630 or $0.268 per common share.  For the nine months ended February 29, 2012, the Fund had net investment income of $28,810,730 ($0.769 per common share).  From this amount, the Fund paid dividends on preferred shares of $885,961 (equal to $0.024 for each common share), resulting in net investment income after the preferred dividends of $27,924,769 or $0.745 per common share.  In comparison, for the three months ended February 28, 2011, the Fund had net investment income of $9,331,926 ($0.250 per common share).  From this amount, the Fund paid dividends on preferred shares of $301,350 (equal to $0.008 for each common share), resulting in net investment income after the preferred dividends of $9,030,576 or $0.242 per common share.  For the nine months ended February 28, 2011, the Fund had net investment income of $27,756,224 ($0.742 per common share).  From this amount, the Fund paid dividends on preferred shares of $925,467 (equal to $0.025 for each common share), resulting in net investment income after the preferred dividends of $26,830,757 or $0.717 per common share.

Net realized and unrealized gains for the three months ended February 29, 2012 were $19,180,619 ($0.510 per common share).  The Fund's net realized and unrealized losses for the nine months ended February 29, 2012 were $10,644,096 ($0.284 per common share).  In comparison, net realized and unrealized gains for the three months ended February 28, 2011 were $21,041,633 ($0.558 per common share).  The Fund's net realized and unrealized gains for the nine months ended February 28, 2011 were $42,909,815 ($1.146 per common share).

On February 29, 2012, net assets of the Fund applicable to common shares were $584,440,081.  The net asset value per common share on February 29, 2012 was $15.59 based on 37,486,982 common shares outstanding.  In comparison, on February 28, 2011, net assets of the Fund applicable to common shares were $598,323,440.  The net asset value per common share on February 28, 2011 was $15.97 based on 37,455,325 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 $197.2 billion in assets as of March 31, 2012, 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