Eaton Vance Tax-Advantaged Dividend Income Fund Report of Earnings
03 November 2009 - 7:45AM
PR Newswire (US)
BOSTON, Nov. 2 /PRNewswire-FirstCall/ -- 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 August 31, 2009 and the year ended August
31, 2009. The Fund's fiscal year ended on August 31, 2009. For the
three months ended August 31, 2009, the Fund had net investment
income of $12,188,589 ($0.167 per common share). For the year ended
August 31, 2009, the Fund had net investment income of $89,399,014
($1.227 per common share). In comparison, for the three months
ended August 31, 2008, the Fund had net investment income of
$25,988,224 ($0.357 per common share). For the year ended August
31, 2008, the Fund had net investment income of $161,017,582
($2.211 per common share). From this amount, the Fund paid
dividends on preferred shares of $20,059,122 (equal to $0.275 for
each common share), resulting in net investment income after the
preferred dividends of $140,958,460 or $1.936 per common share. Net
realized and unrealized gains for the three months ended August 31,
2009 were $117,872,977 ($1.613 per common share) and net realized
and unrealized losses for the year ended August 31, 2009 were
$637,435,774 ($8.757 per common share). In comparison, net realized
and unrealized losses for the three months ended August 31, 2008
were $338,918,232 ($4.653 per common share) and net realized and
unrealized losses for the year ended August 31, 2008 were
$441,649,765 ($6.058 per common share). On August 31, 2009, net
assets of the Fund were $1,116,175,367. The net asset value per
share on August 31, 2009 was $15.32 based on 72,835,900 shares
outstanding. In comparison, on August 31, 2008, net assets of the
Fund were $1,771,251,765. The net asset value per share on August
31, 2008 was $24.32 based on 72,835,900 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 $157.0
billion in assets as of September 30, 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-ADVANTAGED DIVIDEND INCOME FUND SUMMARY OF RESULTS
OF OPERATIONS (in thousands, except per share amounts) Three Months
Ended Year Ended August 31, August 31, ---------- ---------- 2009
2008 2009 2008 ---- ---- ---- ---- Gross investment income $16,588
$34,733 $110,702 $189,602 Operating expenses (2,691) (4,150)
(11,115) (20,074) Interest expense (1,708) (4,595) (10,188) (8,510)
------ ------ ------- ------ Net investment income $12,189 $25,988
$89,399 $161,018 Net realized and unrealized gains (losses) on
investments $117,873 $(338,918) $(637,436) $(441,650) Preferred
dividends paid (1) - - - (20,059) -- -- -- ------- Net increase
(decrease) in net assets from operations $130,062 $(312,930)
$(548,037) $(300,691) ======== ========= ========= =========
Earnings per Common Share Outstanding --------------------- Gross
investment income $0.228 $0.477 $1.520 $2.603 Operating expenses
(0.037) (0.057) (0.153) (0.276) Interest expense (0.024) (0.063)
(0.140) (0.116) ------ ------ ------ ------ Net investment income
$0.167 $0.357 $1.227 $2.211 Net realized and unrealized gains
(losses) on investments $1.613 $(4.653) $(8.757) $(6.058) Preferred
dividends paid (1) - - - (0.275) -- -- -- ------ Net increase
(decrease) in net assets from operations $1.780 $(4.296) $(7.530)
$(4.122) ====== ======= ======= ======= Net investment income
$0.167 $0.357 $1.227 $2.211 Preferred dividends paid (1) - - -
(0.275) -- -- -- ------ Net investment income after preferred
dividends $0.167 $0.357 $1.227 $1.936 ====== ====== ====== ======
Net Asset Value at May 31 (Common Shares )
------------------------- Net assets $1,116,175 $1,771,252 Shares
outstanding 72,836 72,836 Net asset value per share outstanding
$15.32 $24.32 Market Value Summary (Common Shares )
------------------------- Market price on NYSE at August 31 $13.92
$21.05 High market price (period ended August 31) $21.05 $29.40 Low
market price (period ended August 31) $6.81 $20.60 (1) As of April
23, 2008, all series of preferred shares had been redeemed.
DATASOURCE: Eaton Vance Management CONTACT: Investor Contact of
Eaton Vance Management, +1-800-262-1122 Web Site:
http://www.eatonvance.com/.
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