BOSTON, April 16, 2014 /PRNewswire/ -- Eaton Vance
Tax-Managed Diversified Equity Income Fund (NYSE: ETY) (the
"Fund"), a closed-end management investment company, today
announced the earnings of the Fund for the three months ended
January 31, 2014. The Fund's fiscal
year ends on October 31, 2014.
For the three months ended January 31,
2014, the Fund had net investment income of $2,667,891 ($0.018
per share). In comparison, for the three months ended January 31, 2013, the Fund had net investment
income of $6,167,392 ($0.041 per share).
Net realized and unrealized gains for the three months ended
January 31, 2014 were $36,664,201 ($0.245
per share). In comparison, net realized and unrealized gains for
the three months ended January 31,
2013 were $100,279,883
($0.667 per share).
On January 31, 2014, net assets of
the Fund were $1,775,036,656. The net
asset value per share on January 31,
2014 was $11.88 based on
149,444,220 shares outstanding. In comparison, on January 31, 2013, net assets of the Fund were
$1,699,233,314. The net asset value
per share on January 31, 2013 was
$11.34 based on 149,827,516 shares
outstanding.
The Fund periodically makes certain performance data and
information about portfolio characteristics available on
www.eatonvance.com (on the fund information page under "Individual
Investors – Closed-End Funds"). Fund portfolio holdings for the
most recent month-end are also posted to the website approximately
30 days following month-end.
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 $285.4 billion
in assets as of March 31, 2014,
offering individuals and institutions a broad array of investment
strategies and wealth management solutions. The Company's long
record of providing exemplary service and attractive returns
through a variety of market conditions has made Eaton Vance the
investment manager of choice for many of today's most discerning
investors. For more information about Eaton Vance, visit
www.eatonvance.com.
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EATON VANCE
TAX-MANAGED DIVERSIFIED EQUITY INCOME FUND
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SUMMARY OF RESULTS
OF OPERATIONS
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(in thousands,
except per share amounts)
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Three Months
Ended
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Three Months
Ended
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January
31,
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January
31,
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2014
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2013
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Gross investment
income
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$
7,564
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$
10,710
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Operating
expenses
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(4,896)
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(4,543)
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Net investment
income
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$
2,668
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$
6,167
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Net realized and
unrealized gains (losses)
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on investments
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36,664
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100,280
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Net increase
(decrease) in net assets
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from operations
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$
39,332
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$
106,447
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Earnings per Share
Outstanding
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Gross investment
income
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$
0.051
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$
0.071
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Operating
expenses
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(0.033)
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(0.030)
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Net investment
income
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$
0.018
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$
0.041
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Net realized and
unrealized gains (losses)
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on investments
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0.245
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0.667
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Net increase
(decrease) in net assets
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from operations
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$
0.263
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$
0.708
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Net Asset Value at
January 31
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Net
assets
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$
1,775,037
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$
1,699,233
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Shares
outstanding
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149,444
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149,828
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Net asset value per
share outstanding
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$
11.88
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$
11.34
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Market Value
Summary
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Market price on NYSE
at January 31
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$
10.79
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$
10.05
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High market price
(period ended January 31)
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$
11.22
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$
10.05
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Low market price
(period ended January 31)
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$
10.60
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$
9.08
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SOURCE Eaton Vance Management