Eaton Vance Tax-Advantaged Dividend Income Fund Declares Increase in Monthly Dividend
16 August 2005 - 3:12AM
Business Wire
Eaton Vance Tax-Advantaged Dividend Income Fund (NYSE: EVT), a
diversified closed-end investment company, today announced an
increase in the Fund's monthly dividend. The monthly dividend is
being increased from $0.1125 to $0.1175 per share. The dividend
increase will be reflected in the Fund's August 31, 2005 dividend
payment to shareholders of record on August 24, 2005. The
ex-dividend date is August 22, 2005. The dividend increase reflects
growth in the dividends being paid by securities owned in the
Fund's portfolio. In recent periods many of the companies
represented in the Fund's portfolio have increased their regular
dividend payment and in a number of cases have declared special
one-time dividends. In addition, dividend income generated by the
Fund has been enhanced by the successful implementation of the
Fund's dividend capture strategy. The amount of monthly dividend
distributions may vary as portfolio and market conditions change.
Based on the Fund's per share price of $21.78 at the close of the
New York Stock Exchange on August 12, 2005, the Fund's monthly
dividend equates to an annualized market yield of 6.47%. The Fund's
investment objective is to provide a high level of after-tax total
return consisting primarily of tax-advantaged dividend income and
capital appreciation. The Fund invests at least 80% of its assets
in a diversified portfolio of dividend-paying common and preferred
stocks that Eaton Vance Management believes, at the time of
investment, are eligible to pay dividends that qualify for federal
income taxation at long-term capital gain rates ("tax-advantaged
dividends"). In selecting securities, the Fund invests primarily in
stocks of U.S. and non-U.S. companies that produce attractive
levels of tax-advantaged dividends and are, in the opinion of Eaton
Vance, undervalued or inexpensive relative to the overall market.
For its investments in common stocks, the Fund also seeks to invest
in securities that Eaton Vance believes have the potential for
growth of income and capital appreciation over time. The Fund is
managed by Eaton Vance Management. Eaton Vance and its affiliates
had $106 billion in assets under management on July 31, 2005. Eaton
Vance Management will make available periodic summary information
regarding portfolio investments. Those interested should call Eaton
Vance at (617) 482-8260.
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