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Eaton Vance Municipal Income Trust Report of Earnings

BOSTON, Feb. 14, 2014 /PRNewswire/ -- Eaton Vance Municipal Income Trust (NYSE: EVN) (the "Trust"), a diversified closed-end management investment company, today announced the earnings of the Trust for the three months and year ended November 30, 2013. The Trust's fiscal year ended on November 30, 2013.

For the three months ended November 30, 2013, the Trust had net investment income of $5,065,267 ($0.221 per common share). From this amount, the Trust paid dividends on preferred shares of $36,070 (equal to $0.002 for each common share), resulting in net investment income after the preferred dividends of $5,029,197, or $0.219 per common share. The Trust's net investment income for the year ended November 30, 2013 was $20,264,886 ($0.885 per common share, before deduction of the preferred share dividends totaling $0.009 per common share), resulting in net investment income after the preferred dividends of $0.876 per common share. In comparison, for the three months ended November 30, 2012, the Trust had net investment income of $5,221,575 ($0.229 per common share).  From this amount, the Trust paid dividends on preferred shares of $85,105 (equal to $0.003 for each common share), resulting in net investment income after the preferred dividends of $5,136,470 or $0.226 per common share. The Trust's net investment income for the year ended November 30, 2012 was $20,625,920 ($0.905 per common share, before deduction of the preferred share dividends totaling $0.013 per common share), resulting in net investment income after the preferred dividends of $0.892 per common share.

Net realized and unrealized gains for the three months ended November 30, 2013 were $13,591,523 ($0.592 per common share). The Trust's net realized and unrealized losses for the year ended November 30, 2013 were $63,312,304 ($2.778 per common share). In comparison, net realized and unrealized gains for the three months ended November 30, 2012 were $18,031,599 ($0.793 per common share). The Trust's net realized and unrealized gains for the year ended November 30, 2012 were $61,829,736 ($2.715 per common share).

On November 30, 2013, net assets of the Trust applicable to common shares were $246,294,973. The net asset value per common share on November 30, 2013 was $10.54 based on 23,362,186 common shares outstanding. In comparison, on November 30, 2012, net assets of the Trust applicable to common shares were $304,725,903.  The net asset value per common share on November 30, 2012 was $13.36 based on 22,804,327 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 MUNICIPAL INCOME TRUST

SUMMARY OF RESULTS OF OPERATIONS

(in thousands, except per share amounts)






























Three Months Ended


Year Ended



November 30, 


November 30, 



2013


2012


2013


2012

Net investment income

$    5,065


$     5,222


$   20,265


$   20,626

Net realized and unrealized gains (losses)








  on investments

13,592


18,032


(63,312)


61,830

Preferred dividends paid from net investment income

(36)


(85)


(204)


(307)


Net increase (decrease) in net assets









  from operations

$  18,621


$   23,169


$ (43,251)


$   82,149










Earnings per Common Share Outstanding








Net investment income

$    0.221


$     0.229


$     0.885


$     0.905

Net realized and unrealized gains (losses)








  on investments

0.592


0.793


(2.778)


2.715

Preferred dividends paid from net investment income

(0.002)


(0.003)


(0.009)


(0.013)


Net increase (decrease) in net assets









  from operations

$    0.811


$     1.019


$   (1.902)


$     3.607










Net investment income

$    0.221


$     0.229


$     0.885


$     0.905

Preferred dividends paid from net investment income

(0.002)


(0.003)


(0.009)


(0.013)

Net investment income after preferred dividends

$    0.219


$     0.226


$     0.876


$     0.892










Net Asset Value at November 30 (Common Shares)









Net assets 





$  246,295


$  304,726


Shares outstanding 





23,362


22,804


Net asset value per share outstanding





$10.54


$13.36










Market Value Summary (Common Shares)









Market price on NYSE at November 30





$10.53


$14.31


High market price (period ended November 30)





$14.46


$14.44


Low market price (period ended November 30)





$10.00


$12.20

 

SOURCE Eaton Vance Management

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