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
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain.
SYS-CON Events announced today that Hitachi, the leading provider the Internet of Things and Digital Transformation, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd., offers an integrated portfolio of services and solutions that enable digital transformation through enhanced data management, governance, mobility and analytics. We help globa...
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTred processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
Five years ago development was seen as a dead-end career, now it’s anything but – with an explosion in mobile and IoT initiatives increasing the demand for skilled engineers. But apart from having a ready supply of great coders, what constitutes true ‘DevOps Royalty’? It’ll be the ability to craft resilient architectures, supportability, security everywhere across the software lifecycle. In his keynote at @DevOpsSummit at 20th Cloud Expo, Jeffrey Scheaffer, GM and SVP, Continuous Delivery Busine...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, 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.
Did you know that you can develop for mainframes in Java? Or that the testing and deployment can be automated across mobile to mainframe? In his session at @DevOpsSummit at 20th Cloud Expo, Vaughn Marshall, Sr. Principal Product Owner at CA Technologies, will discuss and demo how increasingly teams are developing with agile methodologies using modern development environments and automating testing and deployments, mobile to mainframe.
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo | @ThingsExpo, June 6-8, 2017, at the Javits Center in New York City, NY and October 31 - November 2, 2017, Santa Clara Convention Center, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
SYS-CON Events announced today that Hitachi, the leading provider the Internet of Things and Digital Transformation, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd., offers an integrated portfolio of services and solutions that enable digital transformation through enhanced data management, governance, mobility and analytics. We help globa...
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across supply chain networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost and time for product recall as well as advance trade. Are you curious about Blockchain and how it can provide you with new opportunities for innovation and growth? In her session at 20th Cloud Exp...
Cloud promises the agility required by today’s digital businesses. As organizations adopt cloud based infrastructures and services, their IT resources become increasingly dynamic and hybrid in nature. Managing these require modern IT operations and tools. In his session at 20th Cloud Expo, Raj Sundaram, Senior Principal Product Manager at CA Technologies, will discuss how to modernize your IT operations in order to proactively manage your hybrid cloud and IT environments. He will be sharing be...
Back in February of 2017, Andrew Clay Schafer of Pivotal tweeted the following: “seriously tho, the whole software industry is stuck on deployment when we desperately need architecture and telemetry.” Intrigue in a 140 characters. For me, I hear Andrew saying, “we’re jumping to step 5 before we’ve successfully completed steps 1-4.”