Eaton Vance Declares Early Monthly Distribution for Eaton Vance Floating-Rate Income Trust

Rhea-AI Summary

Eaton Vance Floating-Rate Income Trust (EFT) has announced an early monthly distribution of $0.1030 per share, maintaining its previous distribution rate. With a closing market price of $13.37 as of December 19, 2024, the distribution rate stands at 9.24% at market price.

The distribution schedule has been accelerated to meet 2024 federal excise tax requirements, with declaration on December 20, 2024, ex-date and record date on December 30, 2024, and payment date on January 15, 2025. The Fund expects to announce its next regular monthly distribution in early February 2025.

The Fund's ability to maintain distributions depends on various factors, including investment income stability, performance, expenses, and market conditions. Distributions may include tax-exempt income, qualified and non-qualified dividends, capital gains, and return of capital.

BOSTON--(BUSINESS WIRE)-- Eaton Vance Floating-Rate Income Trust (the “Fund”) announced a distribution today as detailed below.

Declaration – 12/20/2024 Ex-Date – 12/30/2024 Record – 12/30/2024 Payable – 1/15/2025
Fund		Ticker		Monthly Distribution		Change From Prior Distribution	Closing Market Price – 12/19/24		Distribution Rate at Market Price
Eaton Vance Floating-Rate Income Trust		EFT		$0.1030		-	$13.37		9.24%

The declaration, record and payment dates of the regular January distribution has been accelerated to allow the Fund to meet its 2024 distribution requirements for federal excise tax purposes. The Fund expects to declare its next regular monthly distribution at the beginning of February 2025 for payment in February 2025.

The Fund intends to make regular monthly cash distributions to its common shareholders (stated in terms of a fixed cents per common share dividend distribution rate). The Fund’s ability to maintain its declared distribution amount will depend on a number of factors, including the amount and stability of investment income earned by the Fund; the performance of the Fund’s investments; the Fund’s expenses, including the cost of financing for Funds that employ leverage; underlying market conditions; realized and projected returns; and other factors. There can be no assurance that an unanticipated change in market conditions or other factors will not result in a change in a Fund’s distributions at a future time.

Shareholders should not draw any conclusions about the Fund’s investment performance from the amount of any monthly distribution. The Fund’s distributions may be comprised of amounts characterized for U.S. federal income tax purposes as tax-exempt income, qualified and non-qualified ordinary dividends, capital gains and non-dividend distributions, also known as return of capital. A Fund may distribute more than its net investment income and net realized capital gains and, therefore, a distribution may include a return of capital. With each distribution, a Fund will issue a notice to its common shareholders containing information about the amount and sources of the distribution and other related information. Further information regarding Fund distributions will also be available prior to any applicable payment date at funds.eatonvance.com. The final determination of tax characteristics of each Fund’s distributions will occur after the end of the year, at which time it will be reported to the shareholders. Shareholders should not assume that the source of any distribution from a Fund is net income or profit, and the Fund’s distributions should not be used as a measure of performance or confused with “yield” or “income.”

Eaton Vance applies in-depth fundamental analysis to the active management of equity, income, alternative and multi-asset strategies. Eaton Vance’s investment teams follow time-tested principles of investing that emphasize ongoing risk management, tax management (where applicable) and the pursuit of consistent long-term returns. The firm’s investment capabilities encompass the global capital markets. Eaton Vance is a part of Morgan Stanley Investment Management, the asset management division of Morgan Stanley.

Shares of closed-end funds often trade at a discount from their net asset value. The market price of Fund shares may vary from net asset value based on factors affecting the supply and demand for shares, such as Fund distribution rates relative to similar investments, investors’ expectations for future distribution changes, the clarity of the Fund’s investment strategy and future return expectations, and investors’ confidence in the underlying markets in which the Fund invests. Fund shares are subject to investment risk, including possible loss of principal invested. No Fund is a complete investment program and you may lose money investing in a Fund. An investment in a Fund may not be appropriate for all investors. Before investing, prospective investors should consider carefully the Fund’s investment objective, risks, charges and expenses.

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Investor Contact: (800) 262-1122

Source: Eaton Vance

FAQ

What is the distribution amount and rate for Eaton Vance Floating-Rate Income Trust (EFT) in December 2024?

EFT announced a distribution of $0.1030 per share, with a distribution rate of 9.24% based on the December 19, 2024 closing market price of $13.37.

When will EFT's December 2024 distribution be paid?

The distribution will be paid on January 15, 2025, with ex-date and record date set for December 30, 2024.

Why has EFT accelerated its January 2025 distribution schedule?

The distribution schedule has been accelerated to meet the Fund's 2024 distribution requirements for federal excise tax purposes.

What factors affect EFT's ability to maintain its distribution rate?

The Fund's distribution maintenance depends on investment income stability, portfolio performance, expenses, financing costs for leverage, market conditions, and realized and projected returns.

What types of income may be included in EFT's distributions?

Distributions may include tax-exempt income, qualified and non-qualified ordinary dividends, capital gains, and return of capital.