Click here to close now.

Welcome!

News Feed Item

Eaton Vance California Municipal Income Trust Report Of Earnings

BOSTON, Feb. 14, 2014 /PRNewswire/ -- Eaton Vance California Municipal Income Trust (NYSE MKT: CEV) (the "Trust"), a 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 $1,362,249 ($0.187 per common share).  From this amount, the Trust paid dividends on preferred shares of $15,427 (equal to $0.002 for each common share), resulting in net investment income after the preferred dividends of $1,346,822, or $0.185 per common share. The Trust's net investment income for the year ended November 30, 2013 was $5,490,439 ($0.756 per common share, before deduction of the preferred share dividends totaling $0.012 per common share), resulting in net investment income after the preferred dividends of $0.744 per common share. In comparison, for the three months ended November 30, 2012, the Trust had net investment income of $1,382,387 ($0.191 per common share).  From this amount, the Trust paid dividends on preferred shares of $35,318 (equal to $0.005 for each common share), resulting in net investment income after the preferred dividends of $1,347,069, or $0.186 per common share. The Trust's net investment income for the year ended November 30, 2012 was $5,734,651 ($0.791 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 $0.773 per common share.

Net realized and unrealized gains for the three months ended November 30, 2013 were $4,197,214 ($0.576 per common share). The Trust's net realized and unrealized losses for the year ended November 30, 2013 were $14,708,011 ($2.028 per common share). In comparison, net realized and unrealized gains for the three months ended November 30, 2012 were $4,370,269 ($0.602 per common share). The Trust's net realized and unrealized gains for the year ended November 30, 2012 were $16,799,231 ($2.316 per common share).

On November 30, 2013, net assets of the Trust applicable to common shares were $91,333,286. The net asset value per common share on November 30, 2013 was $12.58 based on 7,261,075 common shares outstanding.  In comparison, on November 30, 2012, net assets of the Trust applicable to common shares were $106,366,858. The net asset value per common share on November 30, 2012 was $14.66 based on 7,257,591 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 CALIFORNIA 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

$     1,362


$     1,382


$     5,490


$     5,735

Net realized and unrealized gains (losses)








  on investments

4,197


4,370


(14,708)


16,799

Preferred dividends paid from net investment income

(15)


(35)


(86)


(128)


Net increase (decrease) in net assets









  from operations

$     5,544


$     5,717


$   (9,304)


$   22,406










Earnings per Common Share Outstanding








Net investment income

$     0.187


$     0.191


$     0.756


$     0.791

Net realized and unrealized gains (losses)








  on investments

0.576


0.602


(2.028)


2.316

Preferred dividends paid from net investment income

(0.002)


(0.005)


(0.012)


(0.018)


Net increase (decrease) in net assets









  from operations

$     0.761


$     0.788


$   (1.284)


$     3.089










Net investment income

$     0.187


$     0.191


$     0.756


$     0.791

Preferred dividends paid from net investment income

(0.002)


(0.005)


(0.012)


(0.018)

Net investment income after preferred dividends

$     0.185


$     0.186


$     0.744


$     0.773










Net Asset Value at November 30 (Common Shares)









Net assets 





$91,333


$106,367


Shares outstanding 





7,261


7,258


Net asset value per share outstanding





$12.58


$14.66










Market Value Summary (Common Shares)









Market price on NYSE MKT at November 30





$11.06


$14.68


High market price (period ended November 30)





$15.41


$14.85


Low market price (period ended November 30)                





$10.93


$12.89










 

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
The time is ripe for high speed resilient software defined storage solutions with unlimited scalability. ISS has been working with the leading open source projects and developed a commercial high performance solution that is able to grow forever without performance limitations. In his session at Cloud Expo, Alex Gorbachev, President of Intelligent Systems Services Inc., shared foundation principles of Ceph architecture, as well as the design to deliver this storage to traditional SAN storage co...
Countless business models have spawned from the IaaS industry. Resell Web hosting, blogs, public cloud, and on and on. With the overwhelming amount of tools available to us, it's sometimes easy to overlook that many of them are just new skins of resources we've had for a long time. In his General Session at 16th Cloud Expo, Phil Jackson, Lead Technology Evangelist at SoftLayer, broke down what we've got to work with and discuss the benefits and pitfalls to discover how we can best use them to d...
"We have seen the evolution of WebRTC right from the starting point to what it has become today, that people are using in real applications," noted Dr. Natasha Tamaskar, Vice President and Head of Cloud and Mobile Strategy and Ecosystem at GENBAND, in this SYS-CON.tv interview at WebRTC Summit, held June 9-11, 2015, at the Javits Center in New York City.
Enterprises are turning to the hybrid cloud to drive greater scalability and cost-effectiveness. But enterprises should beware as the definition of “policy” varies wildly. Some say it’s the ability to control the resources apps’ use or where the apps run. Others view policy as governing the permissions and delivering security. Policy is all of that and more. In his session at 16th Cloud Expo, Derek Collison, founder and CEO of Apcera, explained what policy is, he showed how policy should be arch...
The 3rd International WebRTC Summit, to be held Nov. 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 15th International Cloud Expo, 6th International Big Data Expo, 3rd International DevOps Summit and 2nd Internet of @ThingsExpo. WebRTC (Web-based Real-Time Com...
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society-changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his session at @ThingsExpo, Jason Mondanaro, Director, Product Management at Metanga, discussed how you can plan to cooperate, partner, and form lasting all-star teams to change the world...
Internet of Things (IoT) will be a hybrid ecosystem of diverse devices and sensors collaborating with operational and enterprise systems to create the next big application. In their session at @ThingsExpo, Bramh Gupta, founder and CEO of robomq.io, and Fred Yatzeck, principal architect leading product development at robomq.io, discussed how choosing the right middleware and integration strategy from the get-go will enable IoT solution developers to adapt and grow with the industry, while at th...
SYS-CON Events announced today that Harbinger Systems will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Harbinger Systems is a global company providing software technology services. Since 1990, Harbinger has developed a strong customer base worldwide. Its customers include software product companies ranging from hi-tech start-ups in Silicon Valley to leading product companies in the US a...
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
SYS-CON Events announced today that ProfitBricks, the provider of painless cloud infrastructure, will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. ProfitBricks is the IaaS provider that offers a painless cloud experience for all IT users, with no learning curve. ProfitBricks boasts flexible cloud servers and networking, an integrated Data Center Designer tool for visual control over the...
"We got started as search consultants. On the services side of the business we have help organizations save time and save money when they hit issues that everyone more or less hits when their data grows," noted Otis Gospodnetić, Founder of Sematext, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
"CenturyLink brings a full suite of services to the table and that enables us to be an IT service provider," explained Jeff Katzen, Director of the Cloud Practice at CenturyLink, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
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 ar...
DevOps is about increasing efficiency, but nothing is more inefficient than building the same application twice. However, this is a routine occurrence with enterprise applications that need both a rich desktop web interface and strong mobile support. With recent technological advances from Isomorphic Software and others, it is now feasible to create a rich desktop and tuned mobile experience with a single codebase, without compromising performance or usability.
One of the hottest areas in cloud right now is DRaaS and related offerings. In his session at 16th Cloud Expo, Dale Levesque, Disaster Recovery Product Manager with Windstream's Cloud and Data Center Marketing team, will discuss the benefits of the cloud model, which far outweigh the traditional approach, and how enterprises need to ensure that their needs are properly being met.