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Eaton Vance Senior Floating-Rate Trust Report of Earnings

2012-04-11 12:26 ET - News Release

BOSTON, April 11, 2012 /PRNewswire/ -- Eaton Vance Senior Floating-Rate Trust (NYSE: EFR) (the "Trust"), a closed-end management investment company, today announced the earnings of the Trust for the three months ended January 31, 2012. The Trust's fiscal year ends on October 31, 2012.

For the three months ended January 31, 2012, the Trust had net investment income of $7,660,408 ($0.226 per common share). From this amount, the Trust paid dividends on preferred shares of $41,826 (equal to $0.001 for each common share), resulting in net investment income after the preferred dividends of $7,618,582 or $0.225 per common share. In comparison, for the three months ended January 31, 2011, the Trust had net investment income of $8,869,171 ($0.263 per common share). From this amount, the Trust paid dividends on preferred shares of $95,973 (equal to $0.003 for each common share), resulting in net investment income after the preferred dividends of $8,773,198 or $0.260 per common share.

Net realized and unrealized gains for the three months ended January 31, 2012 were $8,788,607 ($0.260 per common share). In comparison, net realized and unrealized gains for the three months ended January 31, 2011 were $19,883,018 ($0.590 per common share).

On January 31, 2012, net assets of the Trust were $511,334,208. The net asset value per common share on January 31, 2012 was $15.14 based on 33,772,984 common shares outstanding. In comparison, on January 31, 2011, net assets of the Trust were $523,661,157. The net asset value per common share on January 31, 2011 was $15.52 based on 33,738,522 common shares outstanding.

The Trust 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"). Trust portfolio holdings for the most recent calendar quarter-end are also posted to the website approximately 30 days following quarter-end. 

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 $191.7 billion in assets as of January 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.

  

EATON VANCE SENIOR FLOATING-RATE TRUST

SUMMARY OF RESULTS OF OPERATIONS

(in thousands, except per share amounts)









Three Months Ended





January 31,








2012


2011


Gross investment income






$     9,977


$   11,082


Operating expenses






(1,745)


(1,620)


Interest expense






(572)


(593)


        Net investment income





$     7,660


$     8,869


Net realized and unrealized gains (losses)










  on investments






$     8,789


$   19,883


Preferred dividends paid from net investment income






(42)


(96)


        Net increase (decrease) in net assets









          from operations





$   16,407


$   28,656












Earnings per Common Share Outstanding










Gross investment income






$     0.295


$     0.329


Operating expenses






(0.052)


(0.048)


Interest expense






(0.017)


(0.018)


        Net investment income 





$     0.226


$     0.263


Net realized and unrealized gains (losses)










  on investments






$     0.260


$     0.590


Preferred dividends paid from net investment income






(0.001)


(0.003)


        Net increase (decrease) in net assets









          from operations





$     0.485


$     0.850












Net investment income






$     0.226


$     0.263


Preferred dividends paid from net investment income






(0.001)


(0.003)


Net investment income after preferred dividends






$     0.225


$     0.260












Net Asset Value at January 31 (Common Shares)










        Net assets 





$ 511,334


$ 523,661


        Shares outstanding 





33,773


33,739


        Net asset value per share outstanding





$     15.14


$     15.52












Market Value Summary (Common Shares)










        Market price on NYSE at January 31





$     15.33


$     16.90


        High market price (period ended January 31)





$     15.33


$     17.00


        Low market price (period ended January 31)





$     13.67


$     15.40












SOURCE Eaton Vance Management

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