Eaton Vance Insured Massachusetts Municipal Bond Fund Report of Earnings
September 11 2009 - 11:40AM
PR Newswire (US)
BOSTON, Sept. 11 /PRNewswire-FirstCall/ -- Eaton Vance Insured
Massachusetts Municipal Bond Fund (NYSE Amex: MAB) (the "Fund"), a
closed-end management investment company, today announced the
earnings of the Fund for the three and nine-month periods ended
June 30, 2009. The Fund's fiscal year ends on September 30, 2009.
For the three months ended June 30, 2009, the Fund had net
investment income of $411,789 ($0.234 per common share). From this
amount, the Fund paid dividends on preferred shares of $21,235
(equal to $0.012 for each common share), resulting in net
investment income after the preferred dividends of $390,554, or
$0.222 per common share. The Fund's net investment income for the
nine months ended June 30, 2009 was $1,216,698 ($0.692 per common
share, before deduction of the preferred share dividends totaling
$0.090 per common share), resulting in net investment income after
the preferred dividends of $0.602 per common share. In comparison,
for the three months ended June 30, 2008, the Fund had net
investment income of $440,691 ($0.251 per common share). From this
amount, the Fund paid dividends on preferred shares of $114,172
(equal to $0.065 for each common share), resulting in net
investment income after the preferred dividends of $326,519, or
$0.186 per common share. The Fund's net investment income for the
nine months ended June 30, 2008 was $1,306,516 ($0.744 per common
share, before deduction of the preferred share dividends totaling
$0.218 per common share), resulting in net investment income after
the preferred dividends of $0.526 per common share. Net realized
and unrealized gains for the three months ended June 30, 2009 were
$927,656 ($0.521 per common share). The Fund's net realized and
unrealized gains for the nine months ended June 30, 2009 were
$536,588 ($0.305 per common share). In comparison, net realized and
unrealized gains for the three months ended June 30, 2008 were
$478,413 ($0.295 per common share). The Fund's net realized and
unrealized losses for the nine months ended June 30, 2008 were
$2,108,531 ($1.201 per common share). On June 30, 2009, net assets
of the Fund applicable to common shares were $21,950,268. The net
asset value per common share on June 30, 2009 was $12.49 based on
1,757,946 common shares outstanding. In comparison, on June 30,
2008, net assets of the Fund applicable to common shares were
$24,435,223. The net asset value per common share on June 30, 2008
was $13.92 based on 1,755,952 common shares outstanding. The Funds
are 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 $143.7 billion in
assets as of July 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 INSURED MASSACHUSETTS
MUNICIPAL BOND FUND SUMMARY OF RESULTS OF OPERATIONS (in thousands,
except per share amounts) Three Months Ended Nine Months Ended June
30, June 30, 2009 2008 2009 2008 ---- ---- ---- ---- Net investment
income $412 $441 $1,217 $1,307 Net realized and unrealized gains
(losses) on investments 928 478 537 (2,109) Preferred dividends
paid from net investment income(1) (21) (114) (158) (383) -- ---
--- --- Net increase (decrease) in net assets from operations
$1,319 $805 $1,596 $(1,185) ====== ==== ====== ===== Earnings per
Common Share Outstanding ------------------------------------- Net
investment income $0.234 $0.251 $0.692 $0.744 Net realized and
unrealized gains (losses) on investments 0.521 0.275 0.305 (1.201)
Preferred dividends paid from net investment income(1) (0.012)
(0.065) (0.090) (0.218) ----- ----- ----- ----- Net increase
(decrease) in net assets from operations $0.743 $0.461 $0.907
$(0.675) ====== ====== ====== ===== Net investment income $0.234
$0.251 $0.692 $0.744 Preferred dividends paid from net investment
income(1) (0.012) (0.065) (0.090) (0.218) ----- ----- ----- -----
Net investment income after preferred dividends (1) $0.222 $0.186
$0.602 $0.526 ====== ====== ====== ====== Net Asset Value at June
30 (Common Shares) ------------------------------------------ Net
assets $21,950 $24,435 Shares outstanding 1,758 1,756 Net asset
value per share outstanding $12.49 $13.92 Market Value Summary
(Common Shares) ------------------------------------ Market price
on NYSE Amex at June 30 $12.26 $15.00 High market price (period
ended June 30) $14.30 $15.77 Low market price (period ended June
30) $9.34 $13.38 (1) During the year ended September 30, 2008, the
Fund made a partial redemption of its preferred shares. DATASOURCE:
Eaton Vance Management CONTACT: Investor Contact of Eaton Vance
Management, +1-800-262-1122 Web Site: http://www.eatonvance.com/
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