Eaton Vance Insured California Municipal Bond Fund II (AMEX:EIA) (the “Fund”), a closed-end management investment company, today announced the earnings of the Fund for the three months and year ended September 30, 2007. The Fund’s fiscal year ended on September 30, 2007.
For the three months ended September 30, 2007, the Fund had net investment income of $953,574 ($0.247 per common share). From this amount, the Fund paid dividends on preferred shares of $283,296 (equal to $0.074 for each common share), resulting in net investment income after the preferred dividends of $670,278, or $0.173 per common share. The Fund’s net investment income for the year ended September 30, 2007 was $3,787,436 ($0.981 per common share, before deduction of the preferred share dividends totaling $0.282 per common share), resulting in net investment income after the preferred dividends of $0.699 per common share. In comparison, for the three months ended September 30, 2006, the Fund had net investment income of $955,783 ($0.248 per common share). From this amount, the Fund paid dividends on preferred shares of $250,642 (equal to $0.065 for each common share), resulting in net investment income after the preferred dividends of $705,141, or $0.183 per common share. The Fund’s net investment income for the year ended September 30, 2006 was $3,818,662 ($0.989 per common share, before deduction of the preferred share dividends totaling $0.243 per common share), resulting in net investment income after the preferred dividends of $0.746 per common share.
Net realized and unrealized gains for the three months ended September 30, 2007 were $192,709 ($0.047 per common share). The Fund’s net realized and unrealized losses for the year ended September 30, 2007 were $1,152,532 ($0.301 per common share). In comparison, net realized and unrealized gains for the three months ended September 30, 2006 were $3,061,095 ($0.794 per common share). The Fund’s net realized and unrealized gains for the year ended September 30, 2006 were $2,107,747 ($0.547 per common share).
On September 30, 2007, net assets of the Fund applicable to common shares were $58,009,792. The net asset value per common share on September 30, 2007 was $15.02 based on 3,861,925 common shares outstanding. In comparison, on September 30, 2006, net assets of the Fund applicable to common shares were $59,199,468. The net asset value per common share on September 30, 2006 was $15.33 based on 3,861,925 common shares outstanding.
Common shares of the Fund are traded on the American Stock Exchange. The Fund is managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp, which is listed on the New York Stock Exchange under the symbol EV. Eaton Vance and its affiliates had approximately $161.7 billion in assets under management on October 31, 2007. Eaton Vance Management will make available periodic summary information regarding portfolio investments. Those interested should call Eaton Vance Management at (800) 262 -1122.
| EATON VANCE INSURED CALIFORNIA MUNICIPAL BOND FUND II | |||||||||||||||||
| SUMMARY OF RESULTS OF OPERATIONS | |||||||||||||||||
| (in thousands, except per share amounts) | |||||||||||||||||
| Three Months Ended | Year Ended | ||||||||||||||||
| September 30, | September 30, | ||||||||||||||||
| 2007 | 2006 | 2007 | 2006 | ||||||||||||||
| Net investment income | $ | 954 | $ | 956 | $ | 3,787 | $ | 3,819 | |||||||||
| Net realized and unrealized gains (losses) on investments | |||||||||||||||||
| 193 | 3,061 | (1,153 | ) | 2,108 | |||||||||||||
| Preferred dividends paid | (283 | ) | (251 | ) | (1,088 | ) | (938 | ) | |||||||||
| Net increase (decrease) in net assets from operations | |||||||||||||||||
| $ | 864 | $ | 3,766 | $ | 1,546 | $ | 4,989 | ||||||||||
| Earnings per Common Share Outstanding | |||||||||||||||||
| Net investment income | $ | 0.247 | $ | 0.248 | $ | 0.981 | $ | 0.989 | |||||||||
| Net realized and unrealized gains (losses) on investments | |||||||||||||||||
| 0.047 | 0.794 | (0.301 | ) | 0.547 | |||||||||||||
| Preferred dividends paid | (0.074 | ) | (0.065 | ) | (0.282 | ) | (0.243 | ) | |||||||||
| Net increase (decrease) in net assets from operations | |||||||||||||||||
| $ | 0.220 | $ | 0.977 | $ | 0.398 | $ | 1.293 | ||||||||||
| Net investment income | $ | 0.247 | $ | 0.248 | $ | 0.981 | $ | 0.989 | |||||||||
| Preferred dividends paid | (0.074 | ) | (0.065 | ) | (0.282 | ) | (0.243 | ) | |||||||||
| Net investment income after preferred dividends | $ | 0.173 | $ | 0.183 | $ | 0.699 | $ | 0.746 | |||||||||
| Net Asset Value at September 30 (Common Shares) | |||||||||||||||||
| Net assets | $ | 58,010 | $ | 59,199 | |||||||||||||
| Shares outstanding | 3,862 | 3,862 | |||||||||||||||
| Net asset value per share outstanding | $ | 15.02 | $ | 15.33 | |||||||||||||
| Market Value Summary (Common Shares) | |||||||||||||||||
| Market price on AMEX at September 30 | $ | 14.25 | $ | 14.635 | |||||||||||||
| High market price (year ended September 30) | $ | 15.39 | $ | 15.35 | |||||||||||||
| Low market price (year ended September 30) | $ | 13.60 | $ | 13.88 | |||||||||||||
Contacts:
Investor
Contact: 800-262-1122
