Eaton Vance New York Municipal Income Trust Report of Earnings
January 29 2010 - 1:32PM
PR Newswire (US)
BOSTON, Jan. 29 /PRNewswire-FirstCall/ -- Eaton Vance New York
Municipal Income Trust (NYSE Amex: EVY) (the "Trust"), a closed-end
management investment company, today announced the earnings of the
Trust for the three months and year ended November 30, 2009. The
Trust's fiscal year ended on November 30, 2009. For the three
months ended November 30, 2009, the Trust had net investment income
of $1,269,002 ($0.235 per common share). From this amount, the
Trust paid dividends on preferred shares of $36,993 (equal to
$0.007 for each common share), resulting in net investment income
after the preferred dividends of $1,232,009, or $0.228 per common
share. The Trust's net investment income for the year ended
November 30, 2009 was $5,174,285 ($0.960 per common share, before
deduction of the preferred share dividends totaling $0.042 per
common share), resulting in net investment income after the
preferred dividends of $0.918 per common share. In comparison, for
the three months ended November 30, 2008, the Trust had net
investment income of $1,203,304 ($0.224 per common share). From
this amount, the Trust paid dividends on preferred shares of
$380,369 (equal to $0.071 for each common share), resulting in net
investment income after the preferred dividends of $822,935, or
$0.153 per common share. The Trust's net investment income for the
year ended November 30, 2008 was $5,305,250 ($0.987 per common
share, before deduction of the preferred share dividends totaling
$0.269 per common share), resulting in net investment income after
the preferred dividends of $0.718 per common share. Net realized
and unrealized gains for the three months ended November 30, 2009
were $1,960,092 ($0.371 per common share). The Trust's net realized
and unrealized gains for the year ended November 30, 2009 were
$18,776,230 ($3.493 per common share). In comparison, net realized
and unrealized losses for the three months ended November 30, 2008
were $23,857,599 ($4.439 per common share). The Trust's net
realized and unrealized losses for the year ended November 30, 2008
were $31,642,108 ($5.887 per common share). On November 30, 2009,
net assets of the Trust applicable to common shares were
$69,856,699. The net asset value per common share on November 30,
2009 was $12.92 based on 5,408,323 common shares outstanding. In
comparison, on November 30, 2008, net assets of the Trust
applicable to common shares were $50,325,028. The net asset value
per common share on November 30, 2008 was $9.35 based on 5,380,419
common shares outstanding. 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 $163.1 billion in assets as of December 31, 2009
offering individuals and institutions a broad array of investment
products 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
http://www.eatonvance.com/. EATON VANCE NEW YORK MUNICIPAL INCOME
TRUST SUMMARY OF RESULTS OF OPERATIONS (in thousands, except per
share amounts) Three Months Ended Year Ended November 30, November
30, ------------- ------------- 2009 2008 2009 2008 ---- ---- ----
---- Net investment income $1,269 $1,203 $5,174 $5,305 Net realized
and unrealized gains (losses) on investments 1,960 (23,858) 18,776
(31,642) Preferred dividends paid from net investment income (1)
(37) (380) (226) (1,444) --- ---- ---- ------ Net increase
(decrease) in net assets from operations $3,192 $(23,035) $23,724
$(27,781) ====== ======== ======= ======== Earnings per Common
Share Outstanding ------------------------------------- Net
investment income $0.235 $0.224 $0.960 $0.987 Net realized and
unrealized gains (losses) on investments 0.371 (4.439) 3.493
(5.887) Preferred dividends paid from net investment income (1)
(0.007) (0.071) (0.042) (0.269) ------ ------ ------ ------ Net
increase (decrease) in net assets from operations $0.599 $(4.286)
$4.411 $(5.169) ====== ======= ====== ======= Net investment income
$0.235 $0.224 $0.960 $0.987 Preferred dividends paid from net
investment income (1) (0.007) (0.071) (0.042) (0.269) ------ ------
------ ------ Net investment income after preferred dividends
$0.228 $0.153 $0.918 $0.718 ====== ====== ====== ====== Net Asset
Value at November 30 (Common Shares) ------------------------------
Net assets $69,857 $50,325 Shares outstanding 5,408 5,380 Net asset
value per share outstanding $12.92 $9.35 Market Value Summary
(Common Shares) ------------------------------------ Market price
on NYSE Amex at November 30 $13.20 $7.90 High market price (period
ended November 30) $14.43 $15.00 Low market price (period ended
November 30) $6.30 $7.90 (1) During the year ended November 30,
2008, the Trust made a partial redemption of its preferred shares.
DATASOURCE: Eaton Vance Management CONTACT: Investors, Eaton Vance
Management, +1-800-262-1122 Web Site: http://www.eatonvance.com/
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