Welcome!

News Feed Item

Eaton Vance Pennsylvania Municipal Income Trust Report Of Earnings

BOSTON, Aug. 14, 2014 /PRNewswire/ -- Eaton Vance Pennsylvania Municipal Income Trust (NYSE MKT: EVP) (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 $520,688 ($0.191 per common share).  From this amount, the Trust paid dividends on preferred shares of $7,106 (equal to $0.002 for each common share), resulting in net investment income after the preferred dividends of $513,582, or $0.189 per common share. The Trust's net investment income for the six months ended May 31, 2014 was $1,045,351 ($0.384 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 $0.380 per common share. In comparison, for the three months ended May 31, 2013, the Trust had net investment income of $506,049 ($0.186 per common share).  From this amount, the Trust paid dividends on preferred shares of $13,277 (equal to $0.004 for each common share), resulting in net investment income after the preferred dividends of $492,772, or $0.182 per common share. The Trust's net investment income for the six months ended May 31, 2013 was $1,013,454 ($0.373 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 $0.365 per common share. 

Net realized and unrealized gains for the three months ended May 31, 2014 were $1,387,385 ($0.512 per common share). The Trust's net realized and unrealized gains for the six months ended May 31, 2014 were $2,685,825 ($0.989 per common share). In comparison, net realized and unrealized losses for the three months ended May 31, 2013 were $1,033,626 ($0.387 per common share). The Trust's net realized and unrealized losses for the six months ended May 31, 2013 were $2,010,359 ($0.746 per common share).

On May 31, 2014, net assets of the Trust applicable to common shares were $37,398,544. The net asset value per common share on May 31, 2014 was $13.75 based on 2,720,414 common shares outstanding. In comparison, on May 31, 2013, net assets of the Trust applicable to common shares were $38,090,698. The net asset value per common share on May 31, 2013 was $14.00 based on 2,720,414 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 PENNSYLVANIA 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

$        521


$        506


$     1,045


$     1,013


Net realized and unrealized gains (losses)









  on investments

1,387


(1,034)


2,686


(2,010)


Preferred dividends paid from net investment income

(7)


(13)


(12)


(23)



Net increase (decrease) in net assets










  from operations

$     1,901


$       (541)


$     3,719


$   (1,020)












Earnings per Common Share Outstanding









Net investment income

$     0.191


$     0.186


$     0.384


$     0.373


Net realized and unrealized gains (losses)









  on investments

0.512


(0.387)


0.989


(0.746)


Preferred dividends paid from net investment income

(0.002)


(0.004)


(0.004)


(0.008)



Net increase (decrease) in net assets










  from operations

$     0.701


$   (0.205)


$     1.369


$   (0.381)












Net investment income

$     0.191


$     0.186


$     0.384


$     0.373


Preferred dividends paid from net investment income

(0.002)


(0.004)


(0.004)


(0.008)


Net investment income after preferred dividends

$     0.189


$     0.182


$     0.380


$     0.365












Net Asset Value at May 31 (Common Shares)










Net assets 





$37,399


$38,091



Shares outstanding 





2,720


2,720



Net asset value per share outstanding





$13.75


$14.00












Market Value Summary (Common Shares)










Market price on NYSE MKT at May 31





$12.68


$12.81



High market price (period ended May 31)





$12.84


$15.53



Low market price (period ended May 31)





$10.74


$12.81















 

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
SYS-CON Events announced today that Massive Networks, that helps your business operate seamlessly with fast, reliable, and secure internet and network solutions, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. As a premier telecommunications provider, Massive Networks is headquartered out of Louisville, Colorado. With years of experience under their belt, their team of...
We all know that end users experience the Internet primarily with mobile devices. From an app development perspective, we know that successfully responding to the needs of mobile customers depends on rapid DevOps – failing fast, in short, until the right solution evolves in your customers' relationship to your business. Whether you’re decomposing an SOA monolith, or developing a new application cloud natively, it’s not a question of using microservices – not doing so will be a path to eventual b...
SYS-CON Events announced today that Taica will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Taica manufacturers Alpha-GEL brand silicone components and materials, which maintain outstanding performance over a wide temperature range -40C to +200C. For more information, visit http://www.taica.co.jp/english/.
SYS-CON Events announced today that TidalScale, a leading provider of systems and services, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. TidalScale has been involved in shaping the computing landscape. They've designed, developed and deployed some of the most important and successful systems and services in the history of the computing industry - internet, Ethernet, operating s...
SYS-CON Events announced today that MIRAI Inc. will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MIRAI Inc. are IT consultants from the public sector whose mission is to solve social issues by technology and innovation and to create a meaningful future for people.
Transforming cloud-based data into a reportable format can be a very expensive, time-intensive and complex operation. As a SaaS platform with more than 30 million global users, Cornerstone OnDemand’s challenge was to create a scalable solution that would improve the time it took customers to access their user data. Our Real-Time Data Warehouse (RTDW) process vastly reduced data time-to-availability from 24 hours to just 10 minutes. In his session at 21st Cloud Expo, Mark Goldin, Chief Technolo...
SYS-CON Events announced today that IBM has been named “Diamond Sponsor” of SYS-CON's 21st Cloud Expo, which will take place on October 31 through November 2nd 2017 at the Santa Clara Convention Center in Santa Clara, California.
SYS-CON Events announced today that TidalScale will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. TidalScale is the leading provider of Software-Defined Servers that bring flexibility to modern data centers by right-sizing servers on the fly to fit any data set or workload. TidalScale’s award-winning inverse hypervisor technology combines multiple commodity servers (including their ass...
In the fast-paced advances and popularity in cloud technology, one of the most critical factors revolves around concerns for security of your critical data. How to assure both your company and your customers they can confidently trust and utilize your cloud environment is most often top on the list. There is a method to evaluating and providing security that exceeds conventional modes of protecting data both within the cloud as well externally on mobile and other devices. With the public failure...
Join IBM November 1 at 21st Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Cognitive analysis impacts today’s systems with unparalleled ability that were previously available only to manned, back-end operations. Thanks to cloud processing, IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Imagine a robot vacuum that becomes your personal assistant tha...
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, will provide a fun and simple way to introduce Machine Leaning to anyone and everyone. Together we will solve a machine learning problem and find an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intellige...
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
As popularity of the smart home is growing and continues to go mainstream, technological factors play a greater role. The IoT protocol houses the interoperability battery consumption, security, and configuration of a smart home device, and it can be difficult for companies to choose the right kind for their product. For both DIY and professionally installed smart homes, developers need to consider each of these elements for their product to be successful in the market and current smart homes.
Infoblox delivers Actionable Network Intelligence to enterprise, government, and service provider customers around the world. They are the industry leader in DNS, DHCP, and IP address management, the category known as DDI. We empower thousands of organizations to control and secure their networks from the core-enabling them to increase efficiency and visibility, improve customer service, and meet compliance requirements.