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.
Eaton Vance Floating-Rate Income Trust (NYSE: EFT) shareholders approved a new investment advisory agreement at a special meeting on April 16, 2021. The Fund will increase its cash tender offer from 25% to 50% of outstanding shares, set to commence on July 1, 2021, and end by August 13, 2021. Moreover, conditional cash tender offers of up to 10% of outstanding shares will occur through 2024 if shares trade at a discount to NAV. The Fund will also raise its distribution rate by 25% starting June 2021.
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.