BOSTON, May 6, 2013 /PRNewswire/ -- Eaton Vance Municipal Income Term Trust (NYSE: ETX) (the "Trust"), a closed-end management investment company, today declared its initial monthly distribution of $0.070833 per common share. The distribution is expected to be paid on June 28, 2013, to shareholders of record on June 21, 2013. The ex-date is June 19, 2013. The Trust commenced operations on March 26, 2013.
On an annualized basis, the Trust's initial distribution is equivalent to an annual distribution rate of approximately 4.25% of the Trust's initial public offering price. The amount of monthly distributions may vary depending on a number of factors. As portfolio and market conditions change, the rate of future distributions may change. The initial public offering price does not reflect the initial sales load or any subsequent fluctuations in the Trust's net asset value or market price per share.
Shares of closed-end funds often trade at a discount from their net asset value. The market price of Trust shares may vary from net asset value based on factors affecting the supply and demand for shares, such as Trust distribution rates relative to similar investments, investors' expectations for future distribution changes, the clarity of the Trust's investment strategy and future return expectations, and investors' confidence in the underlying markets in which the Trust invests. Trust 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 the Trust. An investment in the Trust may not be appropriate for all investors. Before investing, prospective investors should consider carefully the Trust's investment objective, risks, charges and expenses.
The Trust is managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp. (NYSE: EV), one of the oldest investment management firms in the United States, with a history dating back to 1924. Eaton Vance and its affiliates managed $255.1 billion in assets as of March 31, 2013, offering individuals and institutions a broad array of investment strategies and wealth management solutions. Eaton Vance'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