Eaton Vance Tax-Managed Diversified Equity Income Fund Report of Earnings
BOSTON, March 31 /PRNewswire-FirstCall/ -- Eaton Vance Tax-Managed Diversified Equity Income Fund (NYSE: ETY), a closed-end investment company, today announced the earnings of the Fund for the three months ended January 31, 2010. The Fund's fiscal year ends on October 31, 2010.
For the three months ended January 31, 2010, the Fund had net investment income of $4,112,170 ($0.027 per common share). In comparison, for the three months ended January 31, 2009, the Fund had net investment income of $5,186,735 ($0.035 per common share).
Net realized and unrealized gains for the three months ended January 31, 2010 were $59,195,935 ($0.393 per common share). In comparison, net realized and unrealized losses for the three months ended January 31, 2009 were $115,564,631 ($0.772 per common share).
On January 31, 2010, net assets of the Fund were $1,925,588,205. The net asset value per common share on January 31, 2010 was $12.77 based on 150,827,768 common shares outstanding. In comparison, on January 31, 2009, net assets of the Fund were $1,758,165,144. The net asset value per common share on January 31, 2009 was $11.74 based on 149,711,079 common 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 $161.6 billion in assets as of January 31, 2010, offering individuals and institutions a broad array of investment products 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-MANAGED DIVERSIFIED EQUITY INCOME FUND
SUMMARY OF RESULTS OF OPERATIONS
(in thousands, except per share amounts)
Three Months Ended Three Months Ended
January 31 January 31
---------- ----------
2010 2009
---- ----
Gross investment income $9,474 $10,077
Operating expenses (5,362) (4,890)
------ ------
Net investment income $4,112 $5,187
Net realized and unrealized
gains (losses) on investments 59,196 (115,565)
------ --------
Net increase (decrease) in
net assets from operations $63,308 $(110,378)
======= =========
Earnings per Common Share
Outstanding
-------------------------
Gross investment income $0.063 $0.067
Operating expenses (0.036) (0.032)
------ ------
Net investment income $0.027 $0.035
Net realized and unrealized
gains (losses) on investments 0.393 (0.772)
----- ------
Net increase (decrease) in
net assets from operations $0.420 $(0.737)
====== =======
Net Asset Value at January 31
(Common Shares)
-----------------------------
Net assets $1,925,588 $1,758,165
Shares outstanding 150,828 149,711
Net asset value per
share outstanding $12.77 $11.74
Market Value Summary
(Common Shares)
--------------------
Market price on NYSE at
January 31 $12.61 $10.83
High market price (period
ended January 31) $13.94 $11.98
Low market price (period
ended January 31) $12.59 $7.87
SOURCE Eaton Vance Management
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