Eaton Vance Michigan Municipal Bond Fund Report of Earnings

^{Published on 2012-06-22 12:15:50 - Market Wire}
 

Eaton Vance Michigan Municipal Bond Fund Report of Earnings -- BOSTON, June 22, 2012 /PRNewswire/ --

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BOSTON, June 22, 2012 /PRNewswire/ -- Eaton Vance Michigan Municipal Bond Fund (NYSE MKT: MIW) (the "Fund"), a closed-end management investment company, today announced the earnings of the Fund for the three and six-month periods ended March 31, 2012. The Fund's fiscal year ends on September 30, 2012.

For the three months ended March 31, 2012, the Fund had net investment income of $330,876 ($0.219 per common share).  From this amount, the Fund paid dividends on preferred shares of $6,205 (equal to $0.004 for each common share), resulting in net investment income after the preferred dividends of $324,671, or $0.215 per common share. The Fund's net investment income for the six months ended March 31, 2012 was $662,060 ($0.438 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 $0.429 per common share. In comparison, for the three months ended March 31, 2011, the Fund had net investment income of $348,064 ($0.230 per common share).  From this amount, the Fund paid dividends on preferred shares of $13,282 (equal to $0.009 for each common share), resulting in net investment income after the preferred dividends of $334,782, or $0.221 per common share. The Fund's net investment income for the six months ended March 31, 2011 was $694,780 ($0.459 per common share, before deduction of the preferred share dividends totaling $0.018 per common share), resulting in net investment income after the preferred dividends of $0.441 per common share.

Net realized and unrealized gains for the three months ended March 31, 2012 were $469,427 ($0.309 per common share). The Fund's net realized and unrealized gains for the six months ended March 31, 2012 were $857,010 ($0.565 per common share). In comparison, net realized and unrealized losses for the three months ended March 31, 2011 were $181,104 ($0.127 per common share). The Fund's net realized and unrealized losses for the six months ended March 31, 2011 were $2,375,040 ($1.578 per common share).

On March 31, 2012, net assets of the Fund applicable to common shares were $22,075,907. The net asset value per common share on March 31, 2012 was $14.59 based on 1,513,417 common shares outstanding. In comparison, on March 31, 2011, net assets of the Fund applicable to common shares were $19,610,578.  The net asset value per common share on March 31, 2011 was $12.96 based on 1,512,623 common shares outstanding. 

The Fund 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"). Fund portfolio holdings for the most recent calendar quarter-end are also posted to the website approximately 30 days following quarter-end.

The Fund 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 $197.5 billion in assets as of April 30, 2012 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 ].

SOURCE Eaton Vance Management

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