Eaton Vance Floating-Rate Income Trust Report Of Earnings

          Eaton Vance Floating-Rate Income Trust Report Of Earnings

PR Newswire

BOSTON, July 24, 2013

BOSTON, July 24, 2013 /PRNewswire/ --Eaton Vance Floating-Rate Income Trust
(NYSE: EFT) (the "Fund"), a closed-end management investment company, today
announced the earnings of the Fund for the three months and the fiscal year
ended May 31, 2013.

For the three months ended May 31, 2013, the Fund had net investment income of
$9,431,751 ($0.242 per common share). For the year ended May 31, 2013, the
Fund had net investment income of $40,138,873 ($1.058 per common share). From
this amount, the Fund paid dividends on auction preferred shares of $915,192
(equal to $0.024 for each common share), resulting in net investment income
after the preferred dividends of $39,223,681 or $1.034 per common share. In
comparison, for the three months ended May 31, 2012, the Fund had net
investment income of $9,961,955 ($0.265 per common share). From this amount,
the Fund paid dividends on auction preferred shares of $300,521 (equal to
$0.008 for each common share), resulting in net investment income after the
preferred dividends of $9,661,434 or $0.257 per common share. For the year
ended May 31, 2012, the Fund had net investment income of $38,772,685 ($1.034
per common share). From this amount, the Fund paid dividends on auction
preferred shares of $1,186,482 (equal to $0.032 for each common share),
resulting in net investment income after the preferred dividends of
$37,586,203 or $1.002 per common share.

Net realized and unrealized gains for the three months ended May 31, 2013 were
$2,776,424 ($0.076 per common share). The Fund's net realized and unrealized
gains for the year ended May 31, 2013 were $26,502,034 ($0.707 per common
share). In comparison, net realized and unrealized losses for the three
months ended May 31, 2012 were $2,933,936 ($0.084 per common share). The
Fund's net realized and unrealized losses for the year ended May 31, 2012 were
$13,578,032 ($0.368 per common share).

On May 31, 2013, net assets of the Fund applicable to common shares were
$646,842,386. The net asset value per common share on May 31, 2013 was $16.30
based on 39,673,357 common shares outstanding. In comparison, on May 31,
2012, net assets of the Fund applicable to common shares were $582,010,790.
The net asset value per common share on May 31, 2012 was $15.51 based on
37,512,921 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 month-end are also posted to the
website approximately 30 days following month-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 $260.6 billion in assets as of June 30, 2013,
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 FLOATING-RATE INCOME TRUST
SUMMARY OF RESULTS OF OPERATIONS
(in thousands, except per share amounts)
                                      Three Months Ended  Year Ended
                                      May 31,             May 31,
                                      2013      2012      2013       2012
Gross investment income               $12,841   $12,748   $52,544    $49,479
Operating expenses                    (2,225)   (1,921)   (8,372)    (7,351)
Interest expense                      (1,184) * (865)     (4,033)  * (3,355)
    Net investment income             $9,432    $9,962    $40,139    $38,773
Net realized and unrealized gains
(losses)
 on investments                      $2,776    ($2,934)  $26,502    ($13,578)
Dividends on auction preferred shares
paid from
 net investment income               -         (301)     (915)      (1,186)
Discount on redemption and repurchase 1,379     -         1,379      -
of auction
 preferred shares (1)
    Net increase (decrease) in net
    assets
     from operations                 $13,587   $6,727    $67,105    $24,009
Earnings per Common Share
Outstanding
Gross investment income               $0.329    $0.340    $1.385     $1.320
Operating expenses                    (0.057)   (0.051)   (0.221)    (0.196)
Interest expense                      (0.030)   (0.024)   (0.106)    (0.090)
    Net investment income            $0.242    $0.265    $1.058     $1.034
Net realized and unrealized gains
(losses)
 on investments                      $0.076    ($0.084)  $0.707     ($0.368)
Dividends on auction preferred shares
paid from
 net investment income               0.000     (0.008)   (0.024)    (0.032)
Discount on redemption and repurchase 0.036     0.000     0.036      0.000
of auction
 preferred shares (1)
    Net increase (decrease) in net
    assets
     from operations                 $0.354    $0.173    $1.777     $0.634
Net investment income                 $0.242    $0.265    $1.058     $1.034
Dividends on auction preferred shares
paid from
 net investment income               0.000     (0.008)   (0.024)    (0.032)
Net investment income after           $0.242    $0.257    $1.034     $1.002
preferred dividends
Net Asset Value at May 31 (Common
Share)
    Net assets (000)                                      $646,842   $582,011
    Shares outstanding (000)                              39,673     37,513
    Net asset value per share                             $16.30     $15.51
    outstanding
Market Value Summary (Common Share)
    Market price on NYSE at May 31                        $16.68     $15.79
    High market price (year ended                         $16.46     $16.69
    May 31)
    Low market price (year ended May                      $15.43     $13.47
    31)

(1) On or shortly prior to January 4, 2013,the Trust redeemed and
repurchased all of its outstanding auction preferred shares.
* On December 18, 2012, the Fund issued 800 Series C-1 Variable Rate Term
Preferred Shares (VRTP Shares), with a par value of $80 million.The Fund used
the net proceeds of the offering to redeem and repurchase all of its
outstanding auction preferred shares which it completed on or priorto January
4, 2013. The VRTP Shares are a form of preferred shares with a mandatory
redemption date of December 18, 2015, unless extended. The

VRTP Shares were issued to a commercial paper conduit sponsored by a large
financial institution (the Conduit). Dividends on the VRTP Shares
aredetermined each day based on a spread to the Conduit's current cost of
funding and are included in interest expense. The Fund's leverage amountdid
not change materially as a result of the VRTP Share issuance and the
redemption of the auction preferred shares.



SOURCE Eaton Vance Management

Website: http://www.eatonvance.com
Contact: Investor Contact: (800) 262-1122
 
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