Welcome to our dedicated page for Eaton Vance Floating-Rate Income Trust news (Ticker: EFT), a resource for investors and traders seeking the latest updates and insights on Eaton Vance Floating-Rate Income Trust stock.
Eaton Vance Floating-Rate Income Trust issues news as a closed-end management investment company focused on current income with a secondary objective of capital appreciation. The fund’s updates have centered on cash tender offers for its common shares, including NAV-based purchase prices, discount measurement triggers, pro-rata purchase mechanics and final repurchase results.
News also covers shareholder and board actions affecting the fund, including approval of an investment advisory agreement, tender-offer authorizations and common-share matters tied to the fund’s NYSE listing and Eaton Vance fund structure.
Saba Capital Management has reached an agreement with Eaton Vance Management concerning Eaton Vance Senior Income Trust (EVF), Eaton Vance Floating-Rate Income Trust (EFT), and Eaton Vance Senior Floating-Rate Trust (EFR). The Funds will conduct cash tender offers to repurchase up to 60%, 50%, and 50% of their outstanding shares at 99% of their net asset values (NAV). Additionally, conditional year-end tender offers for 10% of common shares at 98% of NAV will occur if specific discount conditions are met from 2022 to 2024.
The Annual Meeting of Shareholders for Eaton Vance Floating-Rate Income Trust (EFT) is set for April 16, 2021, at 11:30 a.m. ET. Due to COVID-19, the meeting will be held telephonically, and in-person attendance is not permitted. Shareholders on record as of February 3, 2021, can vote by emailing AST Fund Solutions for dial-in information. Also, those holding shares via intermediaries must obtain a legal proxy to participate. The Fund is actively monitoring the pandemic situation and may provide updates. The proxy statement is available online.
Eaton Vance Floating-Rate Income Trust (EFT), Eaton Vance Senior Floating-Rate Trust (EFR), and Eaton Vance New York Municipal Income Trust (EVY) announced conditional cash tender offers for up to 25% of their outstanding shares, contingent on shareholder approval of a new advisory agreement. If approved, EFT and EFR will increase monthly distributions to $0.0775 and $0.0813 per share, representing a 25% increase. The funds' distributions may not always reflect net investment income and can include other sources. There are risks regarding the tender offers and future distributions.