Click here to close now.

SYS-CON MEDIA Authors: Pat Romanski, Jason Bloomberg, Liz McMillan, Elizabeth White, Dana Gardner

News Feed Item

Eaton Vance Senior Floating-Rate Trust Report Of Earnings

BOSTON, Aug. 13, 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 six months ended April 30, 2014. The Trust's fiscal year ends on October 31, 2014.

For the three months ended April 30, 2014, the Trust had net investment income of $6,342,571 ($0.173 per common share). From this amount, the Trust paid dividends on preferred shares of $35,792 (equal to $0.001 for each common share), resulting in net investment income after the preferred dividends of $6,306,779 or $0.172 per common share. For the six months ended April 30, 2014, the Trust had net investment income of $17,095,638 ($0.464 per common share). From this amount, the Trust paid dividends on preferred shares of $69,580 (equal to $0.002 for each common share), resulting in net investment income after the preferred dividends of $17,026,058 or $0.462 per common share. In comparison, for the three months ended April 30, 2013, the Trust had net investment income of $8,924,401 ($0.252 per common share). From this amount, the Trust paid dividends on preferred shares of $51,696 (equal to $0.001 for each common share), resulting in net investment income after the preferred dividends of $8,872,705 or $0.251 per common share. For the six months ended April 30, 2013, the Trust had net investment income of $18,277,804 ($0.528 per common share). From this amount, the Trust paid dividends on preferred shares of $115,191 (equal to $0.003 for each common share), resulting in net investment income after the preferred dividends of $18,162,613 or $0.525 per common share. 

Net realized and unrealized losses for the three months ended April 30, 2014 were $3,811,940 ($0.104 per common share) and net realized and unrealized losses for the six months ended April 30, 2014 were $2,968,260 ($0.081 per common share). In comparison, net realized and unrealized gains for the three months ended April 30, 2013 were $4,588,700 ($0.125 per common share) and net realized and unrealized gains for the six months ended April 30, 2013 were $11,673,103 ($0.334 per common share). 

On April 30, 2014, net assets of the Trust were $577,018,236. The net asset value per common share on April 30, 2014 was $15.66 based on 36,841,535 common shares outstanding. In comparison, on April 30, 2013, net assets of the Trust were $577,298,948. The net asset value per common share on April 30, 2013 was $16.00 based on 36,074,786 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 $293.6 billion in assets as of June 30, 2014 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


Six Months Ended




April 30,


April 30,




2014


2013


2014


2013

Gross investment income


$  8,825


$ 11,308


$   22,173


$   23,052

Operating expenses


(1,925)


(1,866)


(3,942)


(3,711)

Interest expense


(557)


(517)


(1,135)


(1,063)


Net investment income


$  6,343


$   8,925


$   17,096


$   18,278

Net realized and unrealized gains (losses)









  on investments


$(3,812)


$   4,589


$    (2,968)


$   11,673

Preferred dividends paid from net investment income


(36)


(52)


(70)


(115)


Net increase (decrease) in net assets










  from operations


$  2,495


$ 13,462


$   14,058


$   29,836











Earnings per Common Share Outstanding









Gross investment income


$  0.240


$   0.320


$     0.602


$     0.666

Operating expenses


(0.052)


(0.053)


(0.107)


(0.107)

Interest expense


(0.015)


(0.015)


(0.031)


(0.031)


Net investment income 


$  0.173


$   0.252


$     0.464


$     0.528

Net realized and unrealized gains (losses)









  on investments


$(0.104)


$   0.125


$    (0.081)


$     0.334

Preferred dividends paid from net investment income


(0.001)


(0.001)


(0.002)


(0.003)


Net increase (decrease) in net assets










  from operations


$  0.068


$   0.376


$     0.381


$     0.859











Net investment income 


$  0.173


$   0.252


$     0.464


$     0.528

Preferred dividends paid from net investment income


(0.001)


(0.001)


(0.002)


(0.003)

Net investment income after preferred dividends


$  0.172


$   0.251


$     0.462


$     0.525





















Net Asset Value at April 30 (Common Shares)










Net assets 






$ 577,018


$ 577,299


Shares outstanding 






36,842


36,075


Net asset value per share outstanding






$     15.66


$     16.00











Market Value Summary (Common Shares)










Market price on NYSE at April 30






$     14.93


$     17.37


High market price (period ended April 30)






$     15.71


$     17.62


Low market price (period ended April 30)






$     14.80


$     15.66











 

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
Buzzword alert: Microservices and IoT at a DevOps conference? What could possibly go wrong? In this Power Panel at DevOps Summit, moderated by Jason Bloomberg, the leading expert on architecting agility for the enterprise and president of Intellyx, panelists will peel away the buzz and discuss the important architectural principles behind implementing IoT solutions for the enterprise. As remote IoT devices and sensors become increasingly intelligent, they become part of our distributed cloud en...
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
While great strides have been made relative to the video aspects of remote collaboration, audio technology has basically stagnated. Typically all audio is mixed to a single monaural stream and emanates from a single point, such as a speakerphone or a speaker associated with a video monitor. This leads to confusion and lack of understanding among participants especially regarding who is actually speaking. Spatial teleconferencing introduces the concept of acoustic spatial separation between confe...
We are all here because we are sold on the transformative promise of The Cloud. But what good is all of this ephemeral, on-demand infrastructure if your usage doesn't actually improve the agility and speed of your business? How must Operations adapt in order to avoid stifling your Cloud initiative? In his session at DevOps Summit, Damon Edwards, co-founder and managing partner of the DTO Solutions, will highlight the successful organizational, process, and tooling patterns of high-performing c...
Discussions about cloud computing are evolving into discussions about enterprise IT in general. As enterprises increasingly migrate toward their own unique clouds, new issues such as the use of containers and microservices emerge to keep things interesting. In this Power Panel at 16th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists will address the state of cloud computing today, and what enterprise IT professionals need to know about how the latest topics and trends affec...
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...
T-Mobile has been transforming the wireless industry with its “Uncarrier” initiatives. Today as T-Mobile’s IT organization works to transform itself in a like manner, technical foundations built over the last couple of years are now key to their drive for more Agile delivery practices. In his session at DevOps Summit, Martin Krienke, Sr Development Manager at T-Mobile, will discuss where they started their Continuous Delivery journey, where they are today, and where they are going in an effort ...
The 4th International Internet of @ThingsExpo, co-located with the 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - announces that its Call for Papers is open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
SYS-CON Media named Andi Mann editor of DevOps Journal. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Andi Mann, Vice President, Strategic Solutions, at CA Technologies, is an accomplished digital business executive with extensive global expertise as a strategist, technologist, innovator, marketer, communicator, and thought lea...
Even though it’s now Microservices Journal, long-time fans of SOA World Magazine can take comfort in the fact that the URL – soa.sys-con.com – remains unchanged. And that’s no mistake, as microservices are really nothing more than a new and improved take on the Service-Oriented Architecture (SOA) best practices we struggled to hammer out over the last decade. Skeptics, however, might say that this change is nothing more than an exercise in buzzword-hopping. SOA is passé, and now that people are ...
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...
The Domain Name Service (DNS) is one of the most important components in networking infrastructure, enabling users and services to access applications by translating URLs (names) into IP addresses (numbers). Because every icon and URL and all embedded content on a website requires a DNS lookup loading complex sites necessitates hundreds of DNS queries. In addition, as more internet-enabled ‘Things' get connected, people will rely on DNS to name and find their fridges, toasters and toilets. Acco...
You often hear the two titles of "DevOps" and "Immutable Infrastructure" used independently. In his session at DevOps Summit, John Willis, Technical Evangelist for Docker, will cover the union between the two topics and why this is important. He will cover an overview of Immutable Infrastructure then show how an Immutable Continuous Delivery pipeline can be applied as a best practice for "DevOps." He will end the session with some interesting case study examples.
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. 8th International Big Data Expo, co-located with 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. As advanced data storage, access and analytics technologies aimed at handling high-volume and/or fast moving data all move center stage, aided by the cloud computing bo...
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...