Welcome!

News Feed Item

Eaton Vance Limited Duration Income Fund Report Of Earnings

BOSTON, Feb. 14, 2014 /PRNewswire/ -- Eaton Vance Limited Duration Income Fund (NYSE MKT: EVV) (the "Fund"), a closed-end management investment company, today announced the earnings of the Fund for the three months and the nine months ended December 31, 2013. The Fund's fiscal year ends on March 31, 2014. 

For the three months ended December 31, 2013, the Fund had net investment income of $33,896,642 ($0.289 per common share).  From this amount, the Fund paid dividends on preferred shares of $79,320 (equal to $0.001 for each common share), resulting in net investment income after the preferred dividends of $33,817,322 or $0.288 per common share.  For the nine months ended December 31, 2013, the Fund had net investment income of $91,547,704 ($0.779 per common share).  From this amount, the Fund paid dividends on preferred shares of $241,526 (equal to $0.002 for each common share), resulting in net investment income after the preferred dividends of $91,306,178 or $0.777 per common share.  In comparison, for the three months ended December 31, 2012, the Fund had net investment income of $37,356,388 ($0.318 per common share).  From this amount, the Fund paid dividends on preferred shares of $128,618 (equal to $0.001 for each common share), resulting in net investment income after the preferred dividends of $37,227,770 or $0.317 per common share.  For the nine months ended December 31, 2012, the Fund had net investment income of $100,879,557 ($0.859 per common share).  From this amount, the Fund paid dividends on preferred shares of $378,998 (equal to $0.003 for each common share), resulting in net investment income after the preferred dividends of $100,500,559 or $0.856 per common share.

Net realized and unrealized gains for the three months ended December 31, 2013 were $24,024,939 ($0.212 per common share).  The Fund's net realized and unrealized losses for the nine months ended December 31, 2013 were $21,932,770 ($0.187 per common share).  In comparison, net realized and unrealized gains for the three months ended December 31, 2012 were $4,977,870 ($0.050 per common share). The Fund's net realized and unrealized gains for the nine months ended December 31, 2012 were $38,211,014 ($0.326 per common share).

On December 31, 2013, net assets of the Fund applicable to common shares were $1,943,271,289. The net asset value per common share on December 31, 2013 was $16.53 based on 117,547,018 common shares outstanding.  In comparison, on December 31, 2012, net assets of the Fund applicable to common shares were $1,971,973,615.  The net asset value per common share on December 31, 2012 was $16.79 based on 117,454,750 common shares outstanding. 

The Fund periodically makes performance data and certain 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 $278.6 billion in assets as of January 31, 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 LIMITED DURATION INCOME FUND

SUMMARY OF RESULTS OF OPERATIONS

(in thousands, except per share amounts)















Three Months Ended


Nine Months Ended





December 31,


December 31,





2013


2012


2013


2012


Gross investment income


$42,696


$44,943


$115,882


$124,355


Operating expenses


(6,366)


(5,615)


(18,273)


(16,967)


Interest expense


(2,433)


(1,972)


(6,061)


(6,508)



Net investment income


$33,897


$37,356


$91,548


$100,880


Net realized and unrealized gains (losses)










  on investments


$24,025


$4,978


($21,933)


$38,211


Preferred dividends paid from net investment income

(79)


(129)


(242)


(379)



Net increase (decrease) in net assets











  from operations


$57,843


$42,205


$69,373


$138,712













Earnings per Common Share Outstanding










Gross investment income


$0.363


$0.382


$0.986


$1.059


Operating expenses


(0.053)


(0.048)


(0.155)


(0.145)


Interest expense


(0.021)


(0.016)


(0.052)


(0.055)



Net investment income


$0.289


$0.318


$0.779

(1)

$0.859

(1)

Net realized and unrealized gains (losses)










  on investments


$0.212


$0.050


($0.187)


$0.326


Preferred dividends paid from net investment income

(0.001)


(0.001)


(0.002)


(0.003)



Net increase (decrease) in net assets











  from operations


$0.500


$0.367


$0.590


$1.182













Net investment income


$0.289


$0.318


$0.779


$0.859


Preferred dividends paid from net investment income

(0.001)


(0.001)


(0.002)


(0.003)


Net investment income after preferred dividends


$0.288


$0.317


$0.777


$0.856













Net Asset Value at December 31 (Common Share)










Net assets (000)






$1,943,271


$1,971,974



Shares outstanding (000)






117,547


117,455



Net asset value per share outstanding






$16.53


$16.79













Market Value Summary (Common Share)











Market price on NYSE MKT at December 31





$15.30


$16.94



High market price (nine months ended December 31)




$17.67


$17.38



Low market price (nine months ended December 31)




$14.50


$15.69













(1) Estimated net investment income per share, calculated on a federal income tax basis, for the nine months ended


December 31, 2013 and December 31, 2012, was $0.901 and $0.909, respectively.

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
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
IoT solutions exploit operational data generated by Internet-connected smart “things” for the purpose of gaining operational insight and producing “better outcomes” (for example, create new business models, eliminate unscheduled maintenance, etc.). The explosive proliferation of IoT solutions will result in an exponential growth in the volume of IoT data, precipitating significant Information Governance issues: who owns the IoT data, what are the rights/duties of IoT solutions adopters towards t...
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, examined the regulations and provided insight on how it affects technology, challenges the established rules and will usher in new levels of diligence arou...
For organizations that have amassed large sums of software complexity, taking a microservices approach is the first step toward DevOps and continuous improvement / development. Integrating system-level analysis with microservices makes it easier to change and add functionality to applications at any time without the increase of risk. Before you start big transformation projects or a cloud migration, make sure these changes won’t take down your entire organization.
It is ironic, but perhaps not unexpected, that many organizations who want the benefits of using an Agile approach to deliver software use a waterfall approach to adopting Agile practices: they form plans, they set milestones, and they measure progress by how many teams they have engaged. Old habits die hard, but like most waterfall software projects, most waterfall-style Agile adoption efforts fail to produce the results desired. The problem is that to get the results they want, they have to ch...
When you focus on a journey from up-close, you look at your own technical and cultural history and how you changed it for the benefit of the customer. This was our starting point: too many integration issues, 13 SWP days and very long cycles. It was evident that in this fast-paced industry we could no longer afford this reality. We needed something that would take us beyond reducing the development lifecycles, CI and Agile methodologies. We made a fundamental difference, even changed our culture...
Organizations planning enterprise data center consolidation and modernization projects are faced with a challenging, costly reality. Requirements to deploy modern, cloud-native applications simultaneously with traditional client/server applications are almost impossible to achieve with hardware-centric enterprise infrastructure. Compute and network infrastructure are fast moving down a software-defined path, but storage has been a laggard. Until now.
In his session at 20th Cloud Expo, Mike Johnston, an infrastructure engineer at Supergiant.io, discussed how to use Kubernetes to set up a SaaS infrastructure for your business. Mike Johnston is an infrastructure engineer at Supergiant.io with over 12 years of experience designing, deploying, and maintaining server and workstation infrastructure at all scales. He has experience with brick and mortar data centers as well as cloud providers like Digital Ocean, Amazon Web Services, and Rackspace. H...
DXWorldEXPO LLC announced today that All in Mobile, a mobile app development company from Poland, will exhibit at the 22nd International CloudEXPO | DXWorldEXPO. All In Mobile is a mobile app development company from Poland. Since 2014, they maintain passion for developing mobile applications for enterprises and startups worldwide.
Digital Transformation is much more than a buzzword. The radical shift to digital mechanisms for almost every process is evident across all industries and verticals. This is often especially true in financial services, where the legacy environment is many times unable to keep up with the rapidly shifting demands of the consumer. The constant pressure to provide complete, omnichannel delivery of customer-facing solutions to meet both regulatory and customer demands is putting enormous pressure on...
The best way to leverage your CloudEXPO | DXWorldEXPO presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering CloudEXPO | DXWorldEXPO will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at CloudEXPO. Product announcements during our show provide your company with the most reach through our targeted audienc...
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, @CloudEXPO and DXWorldEXPO are two of the most important technology events of the year. Since its launch over eight years ago, @CloudEXPO and DXWorldEXPO have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors!
IoT is at the core or many Digital Transformation initiatives with the goal of re-inventing a company's business model. We all agree that collecting relevant IoT data will result in massive amounts of data needing to be stored. However, with the rapid development of IoT devices and ongoing business model transformation, we are not able to predict the volume and growth of IoT data. And with the lack of IoT history, traditional methods of IT and infrastructure planning based on the past do not app...
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
IoT is rapidly becoming mainstream as more and more investments are made into the platforms and technology. As this movement continues to expand and gain momentum it creates a massive wall of noise that can be difficult to sift through. Unfortunately, this inevitably makes IoT less approachable for people to get started with and can hamper efforts to integrate this key technology into your own portfolio. There are so many connected products already in place today with many hundreds more on the h...