EATON VANCE OHIO MUNICIPAL INCOME TRUST BOSTON, Aug. 14, 2014 /PRNewswire/ -- Eaton Vance Ohio Municipal Income Trust (NYSE MKT: EVO) (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 $551,694 ($0.193 per common share). From this amount, the Trust paid dividends on preferred shares of $7,411 (equal to $0.002 for each common share), resulting in net investment income after the preferred dividends of $544,283, or $0.191 per common share. The Trust's net investment income for the six months ended May 31, 2014 was $1,113,936 ($0.390 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 $0.386 per common share. In comparison, for the three months ended May 31, 2013, the Trust had net investment income of $534,266 ($0.187 per common share). From this amount, the Trust paid dividends on preferred shares of $14,208 (equal to $0.005 for each common share), resulting in net investment income after the preferred dividends of $520,058, or $0.182 per common share. The Trust's net investment income for the six months ended May 31, 2013 was $1,073,612 ($0.376 per common share, before deduction of the preferred share dividends totaling $0.009 per common share), resulting in net investment income after the preferred dividends of $0.367 per common share.
Net realized and unrealized gains for the three months ended May 31, 2014 were $1,830,150 ($0.641 per common share). The Trust's net realized and unrealized gains for the six months ended May 31, 2014 were $3,655,611 ($1.280 per common share). In comparison, net realized and unrealized losses for the three months ended May 31, 2013 were $1,380,887 ($0.479 per common share). The Trust's net realized and unrealized losses for the six months ended May 31, 2013 were $2,934,051 ($1.023 per common share).
On May 31, 2014, net assets of the Trust applicable to common shares were $42,300,822. The net asset value per common share on May 31, 2014 was $14.81 based on 2,857,157 common shares outstanding. In comparison, on May 31, 2013, net assets of the Trust applicable to common shares were $42,333,583. The net asset value per common share on May 31, 2013 was $14.82 based on 2,857,157 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 OHIO 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 $552 $534 $1,114 $1,074
Net realized and unrealized gains (losses)
on investments 1,830 (1,381) 3,656 (2,934)
Preferred dividends paid from net investment income (7) (14) (12) (25)
--- --- --- ---
Net increase (decrease) in net assets
from operations $2,375 $(861) $4,758 $(1,885)
======
Earnings per Common Share Outstanding
-------------------------------------
Net investment income $0.193 $0.187 $0.390 $0.376
Net realized and unrealized gains (losses)
on investments 0.641 (0.479) 1.280 (1.023)
Preferred dividends paid from net investment income (0.002) (0.005) (0.004) (0.009)
------ ------ ------ ------
Net increase (decrease) in net assets
from operations $0.832 $(0.297) $1.666 $(0.656)
======
Net investment income $0.193 $0.187 $0.390 $0.376
Preferred dividends paid from net investment income (0.002) (0.005) (0.004) (0.009)
------ ------ ------ ------
Net investment income after preferred dividends $0.191 $0.182 $0.386 $0.367
====== ====== ====== ======
Net Asset Value at May 31 (Common Shares)
----------------------------------------
Net assets $42,301 $42,334
Shares outstanding 2,857 2,857
Net asset value per share outstanding $14.81 $14.82
Market Value Summary (Common Shares)
-----------------------------------
Market price on NYSE MKT at May 31 $13.85 $14.01
High market price (period ended May 31) $14.08 $17.16
Low market price (period ended May 31) $11.57 $13.93
SOURCE Eaton Vance Management
