Eaton Vance Tax-Advantaged Dividend Income Fund Report of Earnings
BOSTON, Aug. 11 /PRNewswire-FirstCall/ -- Eaton Vance Tax-Advantaged Dividend Income Fund (NYSE: EVT), a diversified closed-end investment company, today announced the earnings of the Fund for the three and nine months ended May 31, 2010. The Fund's fiscal year ends on August 31, 2010.
For the three months ended May 31, 2010, the Fund had net investment income of $39,025,240 ($0.535 per share). For the nine months ended May 31, 2010, the Fund had net investment income of $70,755,426 ($0.971 per share). In comparison, for the three months ended May 31, 2009, the Fund had net investment income of $46,911,497 ($0.644 per share). For the nine months ended May 31, 2009, the Fund had net investment income of $77,210,425 ($1.060 per share).
Net realized and unrealized losses for the three months ended May 31, 2010 were $89,683,483 ($1.235 per share) and net realized and unrealized gains for the nine months ended May 31, 2010 were $7,606,531 ($0.104 per share). In comparison, net realized and unrealized gains for the three months ended May 31, 2009 were $238,650,238 ($3.279 per share) and net realized and unrealized losses for the nine months ended May 31, 2009 were $755,308,751 ($10.370 per share).
On May 31, 2010, net assets of the Fund were $1,124,156,823. The net asset value per share on May 31, 2010 was $15.43 based on 72,835,900 shares outstanding. In comparison, on May 31, 2009, net assets of the Fund were $1,009,615,252. The net asset value per share on May 31, 2009 was $13.86 based on 72,835,900 shares outstanding.
The Fund is managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp. (NYSE: EV), based in Boston, one of the oldest investment management firms in the United States, with a history dating back to 1924. Eaton Vance and its affiliates managed $165.4 billion in assets as of June 30, 2010, offering individuals and institutions a broad array of investment strategies and wealth management solutions. The Company'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.
EATON VANCE TAX-ADVANTAGED DIVIDEND INCOME FUND |
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SUMMARY OF RESULTS OF OPERATIONS |
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(in thousands, except per share amounts) |
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Three Months Ended |
Nine Months Ended |
|||||||||
May 31, |
May 31, |
|||||||||
2010 |
2009 |
2010 |
2009 |
|||||||
Gross investment income |
$ 43,429 |
$ 51,387 |
$ 83,779 |
$ 94,114 |
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Operating expenses |
(3,971) |
(2,365) |
(10,203) |
(8,424) |
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Interest expense |
(433) |
(2,111) |
(2,821) |
(8,480) |
||||||
Net investment income |
$ 39,025 |
$ 46,911 |
$ 70,755 |
$ 77,210 |
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Net realized and unrealized gains (losses) |
||||||||||
on investments |
$ (89,683) |
$ 238,650 |
$ 7,607 |
$ (755,309) |
||||||
Net increase (decrease) in net assets |
||||||||||
from operations |
$ (50,658) |
$ 285,561 |
$ 78,362 |
$ (678,099) |
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Earnings per Share Outstanding |
||||||||||
Gross investment income |
$ 0.596 |
$ 0.705 |
$ 1.150 |
$ 1.292 |
||||||
Operating expenses |
(0.055) |
(0.032) |
(0.140) |
(0.116) |
||||||
Interest expense |
(0.006) |
(0.029) |
(0.039) |
(0.116) |
||||||
Net investment income |
$ 0.535 |
$ 0.644 |
$ 0.971 |
$ 1.060 |
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Net realized and unrealized gains (losses) |
||||||||||
on investments |
$ (1.235) |
$ 3.279 |
$ 0.104 |
$ (10.370) |
||||||
Net increase (decrease) in net assets |
||||||||||
from operations |
$ (0.700) |
$ 3.923 |
$ 1.075 |
$ (9.310) |
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Net Asset Value at May 31 |
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Net assets |
$ 1,124,157 |
$ 1,009,615 |
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Shares outstanding |
72,836 |
72,836 |
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Net asset value per share outstanding |
$ 15.43 |
$ 13.86 |
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Market Value Summary |
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Market price on NYSE at May 31 |
$ 14.31 |
$ 11.69 |
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High market price (period ended May 31) |
$ 16.80 |
$ 21.05 |
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Low market price (period ended May 31) |
$ 13.47 |
$ 6.81 |
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SOURCE Eaton Vance Management
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