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Eaton Vance California Municipal Income Trust Report Of Earnings

BOSTON, Aug. 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 and six-month periods ended May 31, 2014. The Trust's fiscal year ends on November 30, 2014.

For the three months ended May 31, 2014, the Trust had net investment income of $1,394,042 ($0.192 per common share).  From this amount, the Trust paid dividends on preferred shares of $16,286 (equal to $0.002 for each common share), resulting in net investment income after the preferred dividends of $1,377,756, or $0.190 per common share. The Trust's net investment income for the six months ended May 31, 2014 was $2,754,921 ($0.379 per common share, before deduction of the preferred share dividends totaling $0.004 per common share), resulting in net investment income after the preferred dividends of $0.375 per common share. In comparison, for the three months ended May 31, 2013, the Trust had net investment income of $1,373,968 ($0.189 per common share).  From this amount, the Trust paid dividends on preferred shares of $31,778 (equal to $0.005 for each common share), resulting in net investment income after the preferred dividends of $1,342,190, or $0.184 per common share. The Trust's net investment income for the six months ended May 31, 2013 was $2,744,032 ($0.378 per common share, before deduction of the preferred share dividends totaling $0.008 per common share), resulting in net investment income after the preferred dividends of $0.370 per common share.

Net realized and unrealized gains for the three months ended May 31, 2014 were $3,979,591 ($0.550 per common share). The Trust's net realized and unrealized gains for the six months ended May 31, 2014 were $8,149,379 ($1.124 per common share). In comparison, net realized and unrealized losses for the three months ended May 31, 2013 were $2,821,253 ($0.393 per common share). The Trust's net realized and unrealized losses for the six months ended May 31, 2013 were $5,025,333 ($0.697 per common share).

On May 31, 2014, net assets of the Trust applicable to common shares were $99,386,500. The net asset value per common share on May 31, 2014 was $13.69 based on 7,261,075 common shares outstanding.  In comparison, on May 31, 2013, net assets of the Trust applicable to common shares were $101,153,514. The net asset value per common share on May 31, 2013 was $13.93 based on 7,261,075 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 $288.2 billion in assets as of July 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 CALIFORNIA MUNICIPAL INCOME TRUST

SUMMARY OF RESULTS OF OPERATIONS

(in thousands, except per share amounts)












Three Months Ended


  

Six Months Ended



May 31, 


May 31, 



2014


2013


2014


2013

Net investment income

$     1,394


$     1,374


$     2,755


$     2,744

Net realized and unrealized gains (losses)








  on investments

3,980


(2,821)


8,149


(5,025)

Preferred dividends paid from net investment income

(16)


(32)


(28)


(56)


Net increase (decrease) in net assets









  from operations

$     5,358


$   (1,479)


$   10,876


$   (2,337)










Earnings per Common Share Outstanding








Net investment income

$     0.192


$     0.189


$     0.379


$     0.378

Net realized and unrealized gains (losses)








  on investments

0.550


(0.393)


1.124


(0.697)

Preferred dividends paid from net investment income

(0.002)


(0.005)


(0.004)


(0.008)


Net increase (decrease) in net assets









  from operations

$     0.740


$   (0.209)


$     1.499


$   (0.327)










Net investment income

$     0.192


$     0.189


$     0.379


$     0.378

Preferred dividends paid from net investment income

(0.002)


(0.005)


(0.004)


(0.008)

Net investment income after preferred dividends

$     0.190


$     0.184


$     0.375


$     0.370










Net Asset Value at May 31 (Common Shares)









Net assets 





$99,387


$101,154


Shares outstanding 





7,261


7,261


Net asset value per share outstanding





$13.69


$13.93










Market Value Summary (Common Shares)









Market price on NYSE MKT at May 31





$12.59


$12.80


High market price (period ended May 31)





$12.69


$15.41


Low market price (period ended May 31)





$10.82


$12.80










SOURCE Eaton Vance Management

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