CORRECTING and REPLACING Eaton Vance Tax-Advantaged Dividend Income Fund Report of Earnings
27 April 2006 - 6:12AM
Business Wire
Due to multiple revisions, please replace this release with the
revised release below. The corrected release reads: EATON VANCE
TAX-ADVANTAGED DIVIDEND INCOME FUND REPORT OF EARNINGS 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, 2006 and for the six
months ended February 28, 2006. The Fund's fiscal year ends on
August 31, 2006. For the three months ended February 28, 2006, the
Fund had net investment income of $38,647,560 ($0.531 per common
share). From this amount, the Fund paid dividends on preferred
shares of $6,859,763 (equal to $0.094 for each common share),
resulting in net investment income after the preferred dividends of
$31,787,797 or $0.437 per common share. For the six months ended
February 28, 2006, the Fund had net investment income of
$65,564,886 ($0.900 per common share). From this amount, the Fund
paid dividends on preferred shares of $13,154,377 (equal to $0.181
for each common share), resulting in net investment income after
the preferred dividends of $52,410,509 or $0.719 per common share.
In comparison, for the three months ended February 28, 2005, the
Fund had net investment income of $24,982,334 ($0.343 per common
share). From this amount, the Fund paid dividends on preferred
shares of $3,599,696 (equal to $0.049 for each common share),
resulting in net investment income after the preferred dividends of
$21,382,638 or $0.294 per common share. For the six months ended
February 28, 2005 the Fund had net investment income of $51,161,476
($0.702 per common share). From this amount, the Fund paid
dividends on preferred shares of $6,606,797 (equal to $0.091 for
each common share), resulting in net investment income after the
preferred dividends of $44,554,679 or $0.611 per common share. Net
realized and unrealized gains for the three months ended February
28, 2006 were $103,965,051 ($1.427 per common share) and net
realized and unrealized gains for the six months ended February 28,
2006 were $78,197,584 ($1.074 per common share). In comparison, net
realized and unrealized gains for the three months ended February
28, 2005 were $84,214,224 ($1.156 per common share) and net
realized and unrealized gains for six months ended February 28,
2005 were $215,551,164 ($2.957 per common share). On February 28,
2006, net assets applicable to common shares of the Fund were
$1,883,984,723. The net asset value per common share on February
28, 2006 was $25.87 based on 72,835,900 common shares outstanding.
In comparison, on February 28, 2005, net assets of the Fund were
$1,751,104,832. The net asset value per common share on February
28, 2005 was $24.04 based on 72,835,900 common shares outstanding.
The Fund is managed by Eaton Vance Management. Eaton Vance and its
affiliates had $113 billion in assets under management as of
January 31, 2006. Eaton Vance Management will make available
periodic summary information regarding portfolio investments. Those
interested should call Eaton Vance Marketing at (617) 482-8260. -0-
*T 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,
------------------- ----------------------- 2006 2005 2006 2005
--------- --------- ----------- ----------- Gross investment income
$43,433 $29,495 $74,967 $60,089 Operating expenses 4,785 4,513
9,402 8,928 --------- --------- ----------- ----------- Net
investment income $38,648 $24,982 $65,565 $51,161 Net realized and
unrealized gains (losses) on investments $103,965 $84,214 $78,198
$215,551 Preferred dividends paid ($6,860) ($3,600) ($13,154)
($6,607) --------- --------- ----------- ----------- Net increase
(decrease) in net assets from operations $135,753 $105,596 $130,609
$260,105 ========= ========= =========== =========== Earnings per
Common Share Outstanding ------------------------- Gross investment
income $0.596 $0.405 $1.029 $0.825 Operating expenses 0.065 0.062
0.129 0.123 --------- --------- ----------- ----------- Net
investment income $0.531 $0.343 $0.900 $0.702 Net realized and
unrealized gains (losses) on investments $1.427 $1.156 $1.074
$2.957 Preferred dividends paid (0.094) (0.049) ($0.181) (0.091)
--------- --------- ----------- ----------- Net increase (decrease)
in net assets from operations $1.864 $1.450 $1.793 $3.568 =========
========= =========== =========== Net investment income $0.531
$0.343 $0.900 $0.702 Preferred dividends paid (0.094) (0.049)
(0.181) (0.091) --------- --------- ----------- ----------- Net
investment income after preferred dividends $0.437 $0.294 $0.719
$0.611 ========= ========= =========== =========== Net Asset Value
at February 28 (Common Shares) ------------------------------ Net
assets (000) $1,883,985 $1,751,105 Shares outstanding (000) 72,836
72,836 Net asset value per share outstanding $25.87 $24.04 Market
Value Summary (Common Shares) -------------------- Market price on
NYSE at February 28 $23.45 $21.72 High market price (six months
ended February 28) $23.45 $22.07 Low market price (six months ended
February 28) $20.56 $19.20 *T
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