BOSTON, Oct. 29 /PRNewswire-FirstCall/ -- Eaton Vance Tax-Advantaged Dividend Income Fund (NYSE: EVT), a diversified closed-end management investment company, today announced the earnings of the Fund for the three months and year ended August 31, 2010. The Fund's fiscal year ended on August 31, 2010.
For the three months ended August 31, 2010, the Fund had net investment income of $26,198,740 ($0.360 per share). For the year ended August 31, 2010, the Fund had net investment income of $96,954,166 ($1.331 per share). In comparison, for the three months ended August 31, 2009, the Fund had net investment income of $12,188,589 ($0.167 per share). For the year ended August 31, 2009, the Fund had net investment income of $89,399,014 ($1.227 per share).
Net realized and unrealized gains for the three months ended August 31, 2010 were $34,939,468 ($0.485 per share) and net realized and unrealized gains for the year ended August 31, 2010 were $42,545,999 ($0.589 per share). In comparison, net realized and unrealized gains for the three months ended August 31, 2009 were $117,872,977 ($1.613 per share) and net realized and unrealized losses for the year ended August 31, 2009 were $637,435,774 ($8.757 per share).
On August 31, 2010, net assets of the Fund were $1,161,717,222. The net asset value per share on August 31, 2010 was $15.95 based on 72,835,900 shares outstanding. In comparison, 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.
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 $180.7 billion in assets as of September 30, 2010, 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.
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, | |
|
| 2010 |
| 2009 |
| 2010 |
| 2009 | |
Gross investment income | $ 30,612 |
| $ 16,588 |
| $ 114,391 |
| $ 110,702 | |
Operating expenses | (2,429) |
| (2,691) |
| (12,632) |
| (11,115) | |
Interest expense | (1,984) |
| (1,708) |
| (4,805) |
| (10,188) | |
| Net investment income | $ 26,199 |
| $ 12,189 |
| $ 96,954 |
| $ 89,399 | |
Net realized and unrealized gains (losses) |
|
|
|
|
|
|
| |
on investments | $ 34,939 |
| $ 117,873 |
| $ 42,546 |
| $ (637,436) | |
| Net increase (decrease) in net assets |
|
|
|
|
|
|
| |
| from operations | $ 61,138 |
| $ 130,062 |
| $ 139,500 |
| $ (548,037) | |
|
|
|
|
|
|
|
|
| |
Earnings per Share Outstanding |
|
|
|
|
|
|
| |
Gross investment income | $ 0.420 |
| $ 0.228 |
| $ 1.570 |
| $ 1.520 | |
Operating expenses | (0.033) |
| (0.037) |
| (0.173) |
| (0.153) | |
Interest expense | (0.027) |
| (0.024) |
| (0.066) |
| (0.140) | |
| Net investment income | $ 0.360 |
| $ 0.167 |
| $ 1.331 |
| $ 1.227 | |
Net realized and unrealized gains (losses) |
|
|
|
|
|
|
| |
on investments | $ 0.485 |
| $ 1.613 |
| $ 0.589 |
| $ (8.757) | |
| Net increase (decrease) in net assets |
|
|
|
|
|
|
| |
| from operations | $ 0.845 |
| $ 1.780 |
| $ 1.920 |
| $ (7.530) | |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| |
Net Asset Value at August 31 |
|
|
|
|
|
|
| |
| Net assets |
|
|
|
| $ 1,161,717 |
| $ 1,116,175 | |
| Shares outstanding |
|
|
|
| 72,836 |
| 72,836 | |
| Net asset value per share outstanding |
|
|
|
| $ 15.95 |
| $ 15.32 | |
|
|
|
|
|
|
|
|
| |
Market Value Summary |
|
|
|
|
|
|
| |
| Market price on NYSE at August 31 |
|
|
|
| $ 14.75 |
| $ 13.92 | |
| High market price (period ended August 31) |
|
|
|
| $ 16.80 |
| $ 21.05 | |
| Low market price (period ended August 31) |
|
|
|
| $ 13.47 |
| $ 6.81 | |
| | | | | | | | |
SOURCE Eaton Vance Management