BOSTON, Jan. 14, 2013 /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 six months ended November 30, 2012. The Fund's fiscal year
ends on May 31, 2013.
For the three months ended November 30,
2012, the Fund had net investment income of $10,980,511 ($0.293
per common share). From this amount, the Fund paid dividends
on preferred shares of $443,810
(equal to $0.012 for each common
share), resulting in net investment income after the preferred
dividends of $10,536,701 or
$0.281 per common share. For
the six months ended November 30,
2012, the Fund had net investment income of $21,128,016 ($0.563
per common share). From this amount, the Fund paid dividends
on preferred shares of $818,061
(equal to $0.022 for each common
share), resulting in net investment income after the preferred
dividends of $20,309,955 or
$0.541 per common share. In
comparison, for the three months ended November 30, 2011, the Fund had net investment
income of $9,054,728 ($0.242 per common share). From this amount,
the Fund paid dividends on preferred shares of $294,874 (equal to $0.008 for each common share), resulting in net
investment income after the preferred dividends of $8,759,854 or $0.234 per common share. For the six months
ended November 30, 2011, the Fund had
net investment income of $18,475,784
($0.493 per common share). From
this amount, the Fund paid dividends on preferred shares of
$586,645 (equal to $0.016 for each common share), resulting in net
investment income after the preferred dividends of $17,889,139 or $0.477 per common share.
Net realized and unrealized gains for the three months ended
November 30, 2012 were $6,128,606 ($0.168
per common share). The Fund's net realized and unrealized
gains for the six months ended November 30,
2012 were $16,160,571
($0.435 per common share). In
comparison, net realized and unrealized gains for the three months
ended November 30, 2011 were
$15,890,333 ($0.426 per common share). The Fund's net
realized and unrealized losses for the six months ended
November 30, 2011 were $29,824,715 ($0.794
per common share).
On November 30, 2012, net assets
of the Fund applicable to common shares were $599,275,764. The net asset value per
common share on November 30, 2012 was
$15.96 based on 37,546,741 common
shares outstanding. In comparison, on November 30, 2011, net assets of the Fund
applicable to common shares were $565,945,110. The net asset value per common
share on November 30, 2011 was
$15.10 based on 37,486,982 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 month-end are also posted to the website
approximately 30 days following month-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 $199.5 billion
in assets as of October 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.
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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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Six
Months Ended
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November 30,
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November 30,
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2012
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2011
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2012
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2011
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Gross
investment income
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$13,864
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$11,687
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$26,920
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$23,747
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Operating
expenses
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(2,045)
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(1,785)
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(4,059)
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(3,604)
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Interest
expense
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(838)
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(847)
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(1,733)
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(1,667)
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Net
investment income
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$10,981
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$9,055
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$21,128
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$18,476
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Net
realized and unrealized gains (losses)
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on
investments
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$6,129
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$15,890
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$16,161
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($29,825)
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Preferred
dividends paid from net investment income
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(444)
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(295)
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(818)
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(587)
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Net
increase (decrease) in net assets
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from operations
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$16,666
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$24,650
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$36,471
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($11,936)
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Earnings
per Common Share Outstanding
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Gross
investment income
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$0.369
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$0.311
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$0.717
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$0.633
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Operating
expenses
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|
(0.054)
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|
(0.047)
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(0.108)
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(0.096)
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Interest
expense
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(0.022)
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(0.022)
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(0.046)
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|
(0.044)
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Net
investment income
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$0.293
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$0.242
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$0.563
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$0.493
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Net
realized and unrealized gains (losses)
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on
investments
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$0.168
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$0.426
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$0.435
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($0.794)
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Preferred
dividends paid from net investment income
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(0.012)
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(0.008)
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(0.022)
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(0.016)
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Net
increase (decrease) in net assets
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|
|
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from operations
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$0.449
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$0.660
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$0.976
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|
($0.317)
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Net
investment income
|
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$0.293
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|
$0.242
|
|
$0.563
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$0.493
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Preferred
dividends paid from net investment income
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(0.012)
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|
(0.008)
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(0.022)
|
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(0.016)
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Net
investment income after preferred dividends
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$0.281
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$0.234
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$0.541
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$0.477
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Net Asset
Value at November 30 (Common Shares )
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Net assets
(000)
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$599,276
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$565,945
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Shares
outstanding (000)
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37,547
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37,487
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Net asset
value per share outstanding
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$15.96
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$15.10
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Market
Value Summary (Common Shares )
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Market
price on NYSE at November 30
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$16.42
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$14.53
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High
market price (six months ended November 30)
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$17.13
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$16.57
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Low market
price (six months ended November 30)
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$14.87
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$13.47
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SOURCE Eaton Vance Management