Eaton Vance Senior Floating-Rate Trust Raises Monthly Payout 3%

Eaton Vance set a $0.069 monthly distribution for Eaton Vance Senior Floating-Rate Trust (NYSE: EFR), raising the payment 3% from October’s $0.067 level.

The $0.002 increase works out to 2.99%. The listed distribution rate at market price is 8.11%, based on the trust’s $10.21 closing share price on Oct. 30.

Eaton Vance cautioned shareholders against treating a monthly distribution as a measure of investment performance. “Shareholders should not draw any conclusions about a Fund’s investment performance from the amount of any monthly distribution,” the company said.

The trust’s primary objective is current income, with capital preservation as a secondary objective. Distributions may include ordinary dividends, capital gains or return of capital; a return-of-capital payment may return part of an investor’s principal and reduce net asset value. The distribution’s tax character was not disclosed. Final tax treatment for the year’s distributions is determined after year-end.

Nov. 16 is both the ex-dividend date and the record date, with payment scheduled for Nov. 30. The record date identifies shareholders eligible for the distribution; buyers on or after the ex-dividend date are not entitled to it.