Eaton Vance Tax-Advantaged Dividend Income Fund Report of Earnings
May 01 2009 - 11:07AM
PR Newswire (US)
BOSTON, May 1 /PRNewswire-FirstCall/ -- Eaton Vance Tax-Advantaged
Dividend Income Fund (NYSE:EVT), a closed-end investment company,
today announced the earnings of the Fund for the three months ended
February 28, 2009 and for the six months ended February 28, 2009.
The Fund's fiscal year ends on August 31, 2009. For the three
months ended February 28, 2009, the Fund had net investment income
of $18,355,562 ($0.252 per common share). For the six months ended
February 28, 2009, the Fund had net investment income of
$30,298,928 ($0.416 per common share). In comparison, for the three
months ended February 29, 2008, the Fund had net investment income
of $41,980,184 ($0.576 per common share). From this amount, the
Fund paid dividends on preferred shares of $8,507,272 (equal to
$0.117 for each common share), resulting in net investment income
after the preferred dividends of $33,472,912 or $0.459 per common
share. For the six months ended February 29, 2008, the Fund had net
investment income of $61,209,870 ($0.840 per common share). From
this amount, the Fund paid dividends on preferred shares of
$17,128,248 (equal to $0.235 for each common share), resulting in
net investment income after the preferred dividends of $44,081,622
or $0.605 per common share. Net realized and unrealized losses for
the three months ended February 28, 2009 were $248,078,124 ($3.410
per common share) and net realized and unrealized losses for the
six months ended February 28, 2009 were $993,958,989 ($13.651 per
common share). In comparison, net realized and unrealized losses
for the three months ended February 29, 2008 were $248,586,640
($3.413 per common share) and net realized and unrealized losses
for the six months ended February 29, 2008 were $168,524,558
($2.311 per common share). On February 28, 2009, net assets of the
Fund applicable to common shares were $747,531,221. The net asset
value per common share on February 28, 2009 was $10.26 based on
72,835,900 common shares outstanding. In comparison, on February
29, 2008, net assets applicable to common shares of the Fund were
$2,014,101,280. The net asset value per common share on February
29, 2008 was $27.65 based on 72,835,900 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 $119.3
billion in assets as of March 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-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, ------------
------------ 2009 2008 2009 2008 ---- ---- ---- ---- Gross
investment income $23,325 $47,255 $42,727 $72,031 Operating
expenses (2,764) (5,275) (6,059) (10,821) Interest expense (2,205)
- (6,369) - ------ --- ------ --- Net investment income $18,356
$41,980 $30,299 $61,210 Net realized and unrealized gains (losses)
on investments $(248,078) $(248,587) $(993,959) $(168,525)
Preferred dividends paid (1) - (8,507) - (17,128) ------ ------
------ ------ Net increase (decrease) in net assets from operations
$(229,722) $(215,114) $(963,660) $(124,443) ========= =========
========= ========= Earnings per Common Share Outstanding
------------------------------------- Gross investment income
$0.321 $0.649 $0.587 $0.989 Operating expenses (0.039) (0.073)
(0.084) (0.149) Interest expense (0.030) - (0.087) - ------ ------
------ ------ Net investment income $0.252 $0.576 $0.416 $0.840 Net
realized and unrealized gains (losses) on investments $(3.410)
$(3.413) $(13.651) $(2.311) Preferred dividends paid (1) - (0.117)
- (0.235) ------ ------ ------ ------ Net increase (decrease) in
net assets from operations $(3.158) $(2.954) $(13.235) $(1.706)
======= ======= ======== ======= Net investment income $0.252
$0.576 $0.416 $0.840 Preferred dividends paid (1) - (0.117) -
(0.235) ------ ------ ------ ------ Net investment income after
preferred dividends $0.252 $0.459 $0.416 $0.605 ====== ======
====== ====== Net Asset Value at February 28 (Common Shares )
----------------------------------------------- Net assets $747,531
$2,014,101 Shares outstanding 72,836 72,836 Net asset value per
share outstanding $10.26 $27.65 Market Value Summary (Common Shares
) ------------------------------------- Market price on NYSE at
February 28 $8.30 $24.24 High market price (period ended February
28) $21.05 $28.08 Low market price (period ended February 28) $7.97
$23.55 (1) As of April 23, 2008, all series of preferred shares had
been redeemed. DATASOURCE: Eaton Vance Management CONTACT:
Investors, Eaton Vance Management +1-800-262-1122 Web Site:
http://www.eatonvance.com/
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