BOSTON,May 6, 2011 /PRNewswire/ -- 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 six months ended February 28, 2011. The Fund's fiscal year ends on August 31, 2011.
For the three months ended February 28, 2011, the Fund had net investment income of $30,721,525 ($0.422 per share). For the six months ended February 28, 2011, the Fund had net investment income of $42,673,910 ($0.586 per share). In comparison, for the three months ended February 28, 2010, the Fund had net investment income of $19,040,902 ($0.262 per share). For the six months ended February 28, 2010, the Fund had net investment income of $31,730,186 ($0.436 per share).
Net realized and unrealized gains for the three months ended February 28, 2011 were $120,413,722 ($1.650 per share) and net realized and unrealized gains for the six months ended February 28, 2011 were $220,114,242 ($3.019 per share). In comparison, net realized and unrealized losses for the three months ended February 28, 2010 were $14,390,209 ($0.194 per share) and net realized and unrealized gains for the six months ended February 28, 2010 were $97,290,014 ($1.339 per share).
On February 28, 2011, net assets of the Fund were $1,377,526,219. The net asset value per share on February 28, 2011 was $18.91 based on 72,835,900 shares outstanding. In comparison,
on February 28, 2010, net assets of the Fund were $1,198,216,412. The net asset value per share on February 28, 2010 was $16.45 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 $198.0 billion in assets as of March 31, 2011 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) | |
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| Three Months Ended |
| Six Months Ended | |
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| February 28, |
| February 28, | |
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| 2011 |
| 2010 |
| 2011 |
| 2010 | |
Gross investment income | $ 35,554 |
| $ 23,209 |
| $ 52,183 |
| $ 40,350 | |
Operating expenses | (3,617) |
| (2,711) |
| (7,129) |
| (6,232) | |
Interest expense | (1,215) |
| (1,457) |
| (2,380) |
| (2,388) | |
| Net investment income | $ 30,722 |
| $ 19,041 |
| $ 42,674 |
| $ 31,730 | |
Net realized and unrealized gains (losses) |
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on investments | $ 120,413 |
| $ (14,390) |
| $ 220,114 |
| $ 97,290 | |
| Net increase (decrease) in net assets |
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| from operations | $ 151,135 |
| $ 4,651 |
| $ 262,788 |
| $ 129,020 | |
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Earnings per Share Outstanding |
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Gross investment income | $ 0.488 |
| $ 0.319 |
| $ 0.716 |
| $ 0.554 | |
Operating expenses | (0.050) |
| (0.037) |
| (0.098) |
| (0.085) | |
Interest expense | (0.016) |
| (0.020) |
| (0.032) |
| (0.033) | |
| Net investment income | $ 0.422 |
| $ 0.262 |
| $ 0.586 |
| $ 0.436 | |
Net realized and unrealized gains (losses) |
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on investments | $ 1.650 |
| $ (0.194) |
| $ 3.019 |
| $ 1.339 | |
| Net increase (decrease) in net assets |
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| from operations | $ 2.072 |
| $ 0.068 |
| $ 3.605 |
| $ 1.775 | |
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Net Asset Value at February 28 |
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| Net assets |
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| $ 1,377,526 |
| $ 1,198,216 | |
| Shares outstanding |
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| 72,836 |
| 72,836 | |
| Net asset value per share outstanding |
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| $ 18.91 |
| $ 16.45 | |
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Market Value Summary |
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| Market price on NYSE at February 28 |
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| $ 17.81 |
| $ 15.23 | |
| High market price (period ended February 28) |
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| $ 17.83 |
| $ 16.34 | |
| Low market price (period ended February 28) |
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| $ 15.11 |
| $ 13.47 | |
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SOURCE Eaton Vance Management