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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

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