Eaton Vance Tax-Advantaged Dividend Income Fund Declares Increase in Monthly Dividend.BOSTON -- Eaton Vance Eaton Vance is an American financial services company headquartered in Boston, MA. It is traded on the New York Stock Exchange under the symbol EV.[1] At the end of the second quarter of the 2006 fiscal year, the company had assets under management of $118.8 billion. Tax-Advantaged Dividend Income Fund (NYSE NYSE See: New York Stock Exchange : EVT EVT Eventueel (Danish: Maybe) EVT Extreme Value Theory (prediction tool for extrapolation of trend graphs) EVT Embedded Visual Tools EVT Emergency Vehicle Technician EVT Erstverkaufstag ), a closed-end, management investment company, today announced an increase in the Fund's monthly dividend. The monthly dividend is being increased from $0.1175 to $0.1225 per share. The dividend increase will be reflected in the Fund's October 31, 2005 dividend payment to shareholders of record on October 24, 2005. The ex-dividend date Ex-dividend date The first day of trading when the buyer of a stock is no longer entitled to the most recently announced dividend payment ( i.e. the trade will settle the day after the record date, too late for the buyer to appear on the shareholder record and receive the dividend. is October 20, 2005. The dividend increase reflects growth in the dividends being paid by securities owned in the Fund's portfolio. In recent periods many of the companies represented in the Fund's portfolio have increased their regular dividend payment and in a number of cases have declared special one-time dividends. In addition, dividend income generated by the Fund has been enhanced by the successful implementation of the Fund's dividend capture strategy. The amount of monthly dividend distributions may vary depending on a number of factors. As portfolio and market conditions change, the rate of dividends on common shares may change. Based on the Fund's per share price of $20.56 at the close of the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. on October 13, 2005 the Fund's monthly dividend equates to an annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. market yield of 7.15%. The Fund's investment objective is to provide a high level of after-tax total return consisting primarily of tax-advantaged dividend income and capital appreciation. The Fund normally invests at least 80% of its total managed assets in dividend-paying common and preferred stocks that Eaton Vance Management believes, at the time of investment, are eligible to pay dividends that qualify for federal income taxation at long-term capital gain Long-term capital gain A profit on the sale of a security or mutual fund share that has been held for more than one year. rates ("tax-advantaged dividends"). In selecting securities, the Fund invests primarily in stocks of U.S. and non-U.S. companies that produce attractive levels of tax-advantaged dividends and are, in the opinion of Eaton Vance, undervalued Undervalued A stock or other security that is trading below its true value. Notes: The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating. or inexpensive relative to the overall market. For its investments in common stocks, the Fund also seeks to invest in securities that Eaton Vance believes have the potential for growth of income and capital appreciation over time. The Fund is managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp., which is listed on the New York Stock Exchange under the symbol EV. Eaton Vance and its affiliates had $106 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. on July 31, 2005. Eaton Vance Management will make available periodic summary information regarding portfolio investments. Those interested should call Eaton Vance at (617) 482-8260. Past performance is no guarantee of future results. This news release contains statements that are not historical facts, referred to as "forward looking statements." Actual future results may differ significantly from those stated in any forward looking statements, depending on factors such as changes in securities or financial markets or general economic conditions, the volume of sales and purchases of shares, the continuation of investment advisory, administration, and service contracts, and other risks discussed from time to time in filings made with the Securities and Exchange Commission. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion