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Eaton Vance Pennsylvania Municipal Bond Fund Report Of Earnings

BOSTON, Dec. 26, 2013 /PRNewswire/ -- Eaton Vance Pennsylvania Municipal Bond Fund (NYSE MKT: EIP) (the "Fund"), a closed-end management investment company, today announced the earnings of the Fund for the three months and year ended September 30, 2013. The Fund's fiscal year ended on September 30, 2013.

For the three months ended September 30, 2013, the Fund had net investment income of $611,679 ($0.206 per common share). From this amount, the Fund paid dividends on preferred shares of $5,117 (equal to $0.001 for each common share), resulting in net investment income after the preferred dividends of $606,562, or $0.205 per common share. The Fund's net investment income for the year ended September 30, 2013 was $2,404,346 ($0.812 per common share, before deduction of the preferred share dividends totaling $0.014 per common share), resulting in net investment income after the preferred dividends of $0.798 per common share. In comparison, for the three months ended September 30, 2012, the Fund had net investment income of $607,952 ($0.206 per common share). From this amount, the Fund paid dividends on preferred shares of $13,563 (equal to $0.005 for each common share), resulting in net investment income after the preferred dividends of $594,389, or $0.201 per common share. The Fund's net investment income for the year ended September 30, 2012 was $2,450,492 ($0.829 per common share, before deduction of the preferred share dividends totaling $0.018 per common share), resulting in net investment income after the preferred dividends of $0.811 per common share.

Net realized and unrealized losses for the three months ended September 30, 2013 were $1,141,651 ($0.383 per common share). The Fund's net realized and unrealized losses for the year ended September 30, 2013 were $5,164,810 ($1.742 per common share). In comparison, net realized and unrealized gains for the three months ended September 30, 2012 were $1,382,213 ($0.468 per common share). The Fund's net realized and unrealized gains for the year ended September 30, 2012 were $3,966,511 ($1.342 per common share).

On September 30, 2013, net assets of the Fund applicable to common shares were $37,618,598. The net asset value per common share on September 30, 2013 was $12.71 based on 2,959,759 common shares outstanding. In comparison, on September 30, 2012, net assets of the Fund applicable to common shares were $42,791,011. The net asset value per common share on September 30, 2012 was $14.46 based on 2,958,606 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 $280.7 billion in assets as of October 31, 2013 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 PENNSYLVANIA MUNICIPAL BOND FUND

SUMMARY OF RESULTS OF OPERATIONS

(in thousands, except per share amounts)



Three Months Ended


Year Ended


September 30,


September 30,


2013


2012


2013


2012

Net investment income

$       611


$       608


$    2,404


$    2,451

Net realized and unrealized gains (losses)








  on investments

(1,142)


1,383


(5,165)


3,967

Preferred dividends paid from net investment income 

(5)


(14)


(43)


(53)


Net increase (decrease) in net assets









  from operations

$     (536)


$    1,977


$  (2,804)


$    6,365










Earnings per Common Share Outstanding








Net investment income 

$    0.206


$    0.206


$    0.812


$    0.829

Net realized and unrealized gains (losses)








  on investments

(0.383)


0.468


(1.742)


1.342

Preferred dividends paid from net investment income 

(0.001)


(0.005)


(0.014)


(0.018)


Net increase (decrease) in net assets









  from operations

$  (0.178)


$    0.669


$  (0.944)


$    2.153










Net investment income

$    0.206


$    0.206


$    0.812


$    0.829

Preferred dividends paid from net investment income 

(0.001)


(0.005)


(0.014)


(0.018)

Net investment income after preferred dividends 

$    0.205


$    0.201


$    0.798


$    0.811










Net Asset Value at September 30 (Common Shares)









Net assets 





$  37,619


$ 42,791


Shares outstanding 





2,960


2,959


Net asset value per share outstanding





$    12.71


$    14.46










Market Value Summary (Common Shares)









Market price on NYSE MKT at September 30





$    11.59


$    15.78


High market price (period ended September 30)





$    16.75


$    15.99


Low market price (period ended September 30)





$    10.88


$    12.50

SOURCE Eaton Vance Management

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