Eaton Vance Tax-Managed Diversified Equity Income Fund Report of Earnings
04 April 2009 - 7:22AM
PR Newswire (US)
BOSTON, April 3 /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, 2009. The Fund's fiscal year ends on
October 31, 2009. For the three months ended January 31, 2009, the
Fund had net investment income of $5,186,735 ($0.035 per common
share). In comparison, for the three months ended January 31, 2008,
the Fund had net investment income of $16,743,413 ($0.112 per
common share). Net realized and unrealized losses for the three
months ended January 31, 2009 were $115,564,631 ($0.772 per common
share). In comparison, net realized and unrealized losses for the
three months ended January 31, 2008 were $218,420,855 ($1.459 per
common share). On January 31, 2009, net assets applicable to the
common shares 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. In comparison, on January
31, 2008, net assets applicable to common shares of the Fund were
$2,662,790,947. The net asset value per common share on January 31,
2008 was $17.79 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 $121.9
billion in assets as of January 31, 2009, 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 http://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
---------- ---------- 2009 2008 ---- ---- Gross investment income
$10,077 $24,103 Operating expenses (4,890) (7,360) ------ ------
Net investment income $5,187 $16,743 Net realized and unrealized
gains (losses) on investments (115,565) (218,421) ------- -------
Net increase (decrease) in net assets from operations $(110,378)
$(201,678) ======= ======= Earnings per Common Share Outstanding
------------------------------------- Gross investment income
$0.067 $0.161 Operating expenses (0.032) (0.049) ----- ----- Net
investment income $0.035 $0.112 Net realized and unrealized gains
(losses) on investments (0.772) (1.459) ----- ----- Net increase
(decrease) in net assets from operations $(0.737) $(1.347) =====
===== Net Asset Value at January 31 (Common Shares)
--------------------------------------------- Net assets (000)
$1,758,165 $2,662,791 Shares outstanding (000) 149,711 149,711 Net
asset value per share outstanding $11.74 $17.79 Market Value
Summary (Common Shares) ------------------------------------ Market
price on NYSE at January 31 $10.83 $17.05 High market price (period
ended January 31) $11.98 $17.17 Low market price (period ended
January 31) $7.87 $15.48 DATASOURCE: Eaton Vance Management
CONTACT: Investor Relations of Eaton Vance Management,
+1-800-262-1122 Web Site: http://www.eatonvance.com/
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