EATON VANCE MUNICIPAL INCOME TRUST 
By BOSTON, Jan. 31, 2012 /PRNewswire/ -- Eaton Vance Municipal Income Trust (NYSE: EVN) (the "Trust"), a diversified closed-end management investment company, today announced the earnings of the Trust for the three months and the year ended November 30, 2011. The Trust's fiscal year ended on November 30, 2011.
For the three months ended November 30, 2011, the Trust had net investment income of $5,073,283 ($0.222 per common share). From this amount, the Trust paid dividends on preferred shares of $68,893 (equal to $0.003 for each common share), resulting in net investment income after the preferred dividends of $5,004,390 or $0.219 per common share. The Trust's net investment income for the year ended November 30, 2011 was $22,443,277 ($0.988 per common share, before deduction of the preferred share dividends totaling $0.016 per common share), resulting in net investment income after the preferred dividends of $0.972 per common share. In comparison, for the three months ended November 30, 2010, the Trust had net investment income of $5,842,673 ($0.259 per common share). From this amount, the Trust paid dividends on preferred shares of $125,975 (equal to $0.006 for each common share), resulting in net investment income after the preferred dividends of $5,716,698, or $0.253 per common share. The Trust's net investment income for the year ended November 30, 2010 was $23,363,569 ($1.036 per common share, before deduction of the preferred share dividends totaling $0.022 per common share), resulting in net investment income after the preferred dividends of $1.014 per common share.
Net realized and unrealized losses for the three months ended November 30, 2011 were $833,820 ($0.042 per common share). The Trust's net realized and unrealized losses for the year ended November 30, 2011 were $7,869,967 ($0.352 per common share). In comparison, net realized and unrealized losses for the three months ended November 30, 2010 were $22,894,078 ($1.006 per common share). The Trust's net realized and unrealized gains for the year ended November 30, 2010 were $3,596,321 ($0.169 per common share).
On November 30, 2011, net assets of the Trust applicable to common shares were $243,936,427. The net asset value per common share on November 30, 2011 was $10.71 based on 22,769,255 common shares outstanding. In comparison, on November 30, 2010, net assets of the Trust applicable to common shares were $250,730,834. The net asset value per common share on November 30, 2010 was $11.08 based on 22,635,535 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 calendar quarter-end are also posted to the website approximately 30 days following quarter-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 $184.5 billion in assets as of December 31, 2011 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 MUNICIPAL INCOME TRUST
SUMMARY OF RESULTS OF OPERATIONS
(in thousands, except per share amounts)
Three Months Ended Year Ended
November 30, November 30,
------------ ------------
2011 2010 2011 2010
---- ---- ---- ----
Net investment income $5,073 $5,843 $22,443 $23,364
Net realized and
unrealized gains
(losses)
on investments (834) (22,894) (7,870) 3,596
Preferred dividends paid
from net investment
income (68) (126) (371) (486)
--- ---- ---- ----
Net increase (decrease) in net
assets
from operations $4,171 $(17,177) $14,202 $26,474
======
Earnings per Common Share
Outstanding
-------------------------
Net investment income $0.222 $0.259 $0.988 $1.036
Net realized and
unrealized gains
(losses)
on investments (0.042) (1.006) (0.352) 0.169
Preferred dividends paid
from net investment
income (0.003) (0.006) (0.016) (0.022)
------ ------ ------ ------
Net increase (decrease) in net
assets
from operations $0.177 $(0.753) $0.620 $1.183
======
Net investment income $0.222 $0.259 $0.988 $1.036
Preferred dividends paid
from net investment
income (0.003) (0.006) (0.016) (0.022)
------ ------ ------ ------
Net investment income
after preferred
dividends $0.219 $0.253 $0.972 $1.014
====== ====== ====== ======
Net Asset Value at
November 30 (Common
Shares)
--------------------
Net assets $243,936 $250,731
Shares outstanding 22,769 22,636
Net asset value per share
outstanding $10.71 $11.08
Market Value Summary
(Common Shares)
--------------------
Market price on NYSE at
November 30 $12.27 $11.98
High market price (period ended
November 30) $12.44 $13.14
Low market price (period ended
November 30) $10.52 $11.22
SOURCE Eaton Vance Management
