Eaton Vance Tax-Advantaged Dividend Income Fund Report of Earnings

News provided by

Eaton Vance Management

Apr 28, 2010, 11:52 ET

BOSTON, April 28 /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 months ended February 28, 2010 and the six months ended February 28, 2010.  The Fund's fiscal year ends on August 31, 2010.

For the three months ended February 28, 2010, the Fund had net investment income of $19,040,902 ($0.262 per share). For the six months ended February 28, 2010, the Fund had net investment income of $31,730,186 ($0.436 per share).  In comparison, for the three months ended February 28, 2009, the Fund had net investment income of $18,355,562 ($0.252 per share). For the six months ended February 28, 2009, the Fund had net investment income of $30,298,928 ($0.416 per share).  

Net realized and unrealized losses for the three months ended February 28, 2010 were $14,390,209 ($0.194 per share) and net realized and unrealized gains for the six months ended February 28, 2010 were $97,290,014 ($1.339 per share). In comparison, net realized and unrealized losses for the three months ended February 28, 2009 were $248,078,124 ($3.410 per share) and net realized and unrealized losses for the six months ended February 28, 2009 were $993,958,989 ($13.651 per share).

On February 28, 2010, net assets of the Fund were $1,198,216,412.  The net asset value per share on February 28, 2010 was $16.45 based on 72,835,900 shares outstanding.  In comparison, on February 28, 2009, net assets of the Fund were $747,531,221.  The net asset value per share on February 28, 2009 was $10.26 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 $173.1 billion in assets as of March 31, 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

SUMMARY OF RESULTS OF OPERATIONS

(in thousands, except per share amounts)










Three Months Ended

Six Months Ended



February 28,

February 28,



2010

2009

2010

2009

Gross investment income

$             23,209

$          23,325

$            40,350

$              42,727

Operating expenses

(2,711)

(2,764)

(6,232)

(6,059)

Interest expense

(1,457)

(2,205)

(2,388)

(6,369)

Net investment income

$             19,041

$          18,356

$            31,730

$              30,299

Net realized and unrealized gains (losses) on investments

$            (14,390)

$       (248,078)

$            97,290

$           (993,959)

Net increase (decrease) in net assets from operations

$               4,651

$       (229,722)

$          129,020

$           (963,660)







Earnings per Share Outstanding




Gross investment income

$               0.319

$            0.321

$              0.554

$                0.587

Operating expenses

(0.037)

(0.039)

(0.085)

(0.084)

Interest expense

(0.020)

(0.030)

(0.033)

(0.087)

Net investment income

$               0.262

$            0.252

$              0.436

$                0.416

Net realized and unrealized gains (losses) on investments

$              (0.194)

$           (3.410)

$              1.339

$             (13.651)







Net increase (decrease) in net assets  from operations

$               0.068

$           (3.158)

$              1.775

$             (13.235)














Net Asset Value at February 28





Net assets




$       1,198,216

$            747,531

Shares outstanding



72,836

72,836

Net asset value per share outstanding

$              16.45

$                10.26







Market Value Summary





Market price on NYSE at February 28

$              15.23

$                  8.30

High market price (period

 ended February 28)

$              16.34

$                21.05

Low market price (period

 ended  February 28)

$              13.47

$                  7.97

SOURCE Eaton Vance Management

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