Click here to close now.

SYS-CON MEDIA Authors: Ian Goldsmith, Ed Featherston, Elizabeth White, Pat Romanski, Liz McMillan

News Feed Item

Eaton Vance Senior Floating-Rate Trust Report of Earnings

BOSTON, Feb. 4, 2014 /PRNewswire/ -- Eaton Vance Senior Floating-Rate Trust (NYSE: EFR) (the "Trust"), a diversified closed-end management investment company, today announced the earnings of the Trust for the three months and the year ended October 31, 2013. The Trust's fiscal year ended on October 31, 2013.

For the three months ended October 31, 2013, the Trust had net investment income of $8,768,886 ($0.237 per common share). From this amount, the Trust paid dividends on preferred shares of $42,764 (equal to $0.001 for each common share), resulting in net investment income after the preferred dividends of $8,726,122 or $0.236 per common share. For the year ended October 31, 2013, the Trust had net investment income of $36,008,699 ($1.009 per common share). From this amount, the Trust paid dividends on preferred shares of $204,473 (equal to $0.006 for each common share), resulting in net investment income after the preferred dividends of $35,804,226 or $1.003 per common share. In comparison, for the three months ended October 31, 2012, the Trust had net investment income of $10,333,132 ($0.305 per common share). From this amount, the Trust paid dividends on preferred shares of $59,802 (equal to $0.001 for each common share), resulting in net investment income after the preferred dividends of $10,273,330 or $0.304 per common share. For the year ended October 31, 2012, the Trust had net investment income of $37,073,434 ($1.097 per common share). From this amount, the Trust paid dividends on preferred shares of $218,137 (equal to $0.006 for each common share), resulting in net investment income after the preferred dividends of $36,855,297 or $1.091 per common share. 

Net realized and unrealized losses for the three months ended October 31, 2013 were $1,339,474 ($0.023 per common share) and net realized and unrealized gains for the year ended October 31, 2013 were $4,605,474 ($0.145 per common share). In comparison, net realized and unrealized gains for the three months ended October 31, 2012 were $8,806,426 ($0.257 per common share) and net realized and unrealized gains for the year ended October 31, 2012 were $23,115,651 ($0.681 per common share). 

On October 31, 2013, net assets of the Trust were $582,523,293. The net asset value per common share on October 31, 2013 was $15.81 based on 36,841,535 common shares outstanding. In comparison, on October 31, 2012, net assets of the Trust were $528,464,746. The net asset value per common share on October 31, 2012 was $15.63 based on 33,810,170 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 month-end are also posted to the website approximately 30 days following month-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 $283.3 billion in assets as of December 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 SENIOR FLOATING-RATE TRUST

SUMMARY OF RESULTS OF OPERATIONS

(in thousands, except per share amounts)




















Three Months Ended


Year Ended







October 31,


October 31,







2013


2012


2013


2012

Gross investment income




$           11,393


$         12,678


$        45,974


$           46,353

Operating expenses





(2,037)


(1,811)


(7,732)


(7,104)

Interest expense





(587)


(534)


(2,233)


(2,176)


Net investment income



$             8,769


$         10,333


$        36,009


$           37,073

Net realized and unrealized gains (losses)









  on investments





$            (1,340)


$           8,807


$           4,605


$           23,116

Preferred dividends paid from net investment income

(42)


(60)


(204)


(218)


Net increase (decrease) in net assets









  from operations




$             7,387


$         19,080


$        40,410


$           59,971














Earnings per Common Share Outstanding









Gross investment income




$             0.309


$           0.375


$           1.289


$             1.372

Operating expenses





(0.056)


(0.053)


(0.217)


(0.210)

Interest expense





(0.016)


(0.017)


(0.063)


(0.065)


Net investment income 



$             0.237


$           0.305


$           1.009


$             1.097

Net realized and unrealized gains (losses)









  on investments





$            (0.023)


$           0.257


$           0.145


$             0.681

Preferred dividends paid from net investment income


(0.001)


(0.001)


(0.006)


(0.006)


Net increase (decrease) in net assets









  from operations




$             0.213


$           0.561


$           1.148


$             1.772














Net investment income 




$             0.237


$           0.305


$           1.009


$             1.097

Preferred dividends paid from net investment income

(0.001)


(0.001)


(0.006)


(0.006)

Net investment income after preferred dividends

$             0.236


$           0.304


$           1.003


$             1.091



























Net Asset Value at October 31 (Common Shares)









Net assets 









$      582,523


$        528,465


Shares outstanding 







36,842


33,810


Net asset value per share outstanding





$           15.81


$             15.63














Market Value Summary (Common Shares)










Market price on NYSE at October 31





$           15.80


$             16.25


High market price (period ended October 31)





$           17.62


$             16.88


Low market price (period ended October 31)





$           15.25


$             13.67














 

SOURCE Eaton Vance Management

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
DevOps is all about agility. However, you don't want to be on a high-speed bus to nowhere. The right DevOps approach controls velocity with a tight feedback loop that not only consists of operational data but also incorporates business context. With a business context in the decision making, the right business priorities are incorporated, which results in a higher value creation. In his session at DevOps Summit, Todd Rader, Solutions Architect at AppDynamics, discussed key monitoring techniques...
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, discussed how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money!
DevOps Summit, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developmen...
Want to enable self-service provisioning of application environments in minutes that mirror production? Can you automatically provide rich data with code-level detail back to the developers when issues occur in production? In his session at DevOps Summit, David Tesar, Microsoft Technical Evangelist on Microsoft Azure and DevOps, will discuss how to accomplish this and more utilizing technologies such as Microsoft Azure, Visual Studio online, and Application Insights in this demo-heavy session.
SYS-CON Events announced today that MetraTech, now part of Ericsson, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Ericsson is the driving force behind the Networked Society- a world leader in communications infrastructure, software and services. Some 40% of the world’s mobile traffic runs through networks Ericsson has supplied, serving more than 2.5 billion subscribers.
The 5th International DevOps Summit, co-located with 17th International Cloud Expo – being held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the...
As cloud gives an opportunity to businesses to buy services externally – how is cloud impacting your customers? In his General Session at 15th Cloud Expo, Fabio Gori, Director of Worldwide Cloud Marketing at Cisco, provided answers to big questions: Do you see hybrid cloud as where the world is going? What benefits does it bring? And how does Cisco connect all of these clouds? He also discussed Intercloud and Cisco’s investment on it.
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises a...
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding bu...
Over the years, a variety of methodologies have emerged in order to overcome the challenges related to project constraints. The successful use of each methodology seems highly context-dependent. However, communication seems to be the common denominator of the many challenges that project management methodologies intend to resolve. In this respect, Information and Communication Technologies (ICTs) can be viewed as powerful tools for managing projects. Few research papers have focused on the way...
As the world moves from DevOps to NoOps, application deployment to the cloud ought to become a lot simpler. However, applications have been architected with a much tighter coupling than it needs to be which makes deployment in different environments and migration between them harder. The microservices architecture, which is the basis of many new age distributed systems such as OpenStack, Netflix and so on is at the heart of CloudFoundry – a complete developer-oriented Platform as a Service (PaaS...
In high-production environments where release cycles are measured in hours or minutes — not days or weeks — there's little room for mistakes and no room for confusion. Everyone has to understand what's happening, in real time, and have the means to do whatever is necessary to keep applications up and running optimally. DevOps is a high-stakes world, but done well, it delivers the agility and performance to significantly impact business competitiveness.
There is no question that the cloud is where businesses want to host data. Until recently hypervisor virtualization was the most widely used method in cloud computing. Recently virtual containers have been gaining in popularity, and for good reason. In the debate between virtual machines and containers, the latter have been seen as the new kid on the block – and like other emerging technology have had some initial shortcomings. However, the container space has evolved drastically since coming on...
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover ...
Enterprises are fast realizing the importance of integrating SaaS/Cloud applications, API and on-premises data and processes, to unleash hidden value. This webinar explores how managers can use a Microservice-centric approach to aggressively tackle the unexpected new integration challenges posed by proliferation of cloud, mobile, social and big data projects. Industry analyst and SOA expert Jason Bloomberg will strip away the hype from microservices, and clearly identify their advantages and d...