Eaton Vance Tax-Managed Dividend Income Fund Declares Early Distribution of 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-Managed Dividend Income Fund, a diversified open-end management investment company, today declared the Fund's regular January 2006 monthly dividend of $0.055 per share on the Fund's Class A shares and $0.046 on the Fund's Class B and Class C shares. The dividend will be paid on January 3, 2006 to shareholders of record on December 29, 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. for this dividend is December 30, 2005. This distribution's declaration, record and payment dates have been accelerated to allow the Fund to meet its 2005 distribution requirement for federal excise tax Excise Tax 1. An indirect tax charged on the sale of a particular good. 2. A penalty tax applied to ineligible transactions in retirement accounts. This penalty is assessed by and paid to the IRS. Notes: 1. purposes. The Fund expects to declare its next regular monthly dividend in the middle of February 2006. The Fund estimates that virtually all of the income declared by the Fund in calendar year 2005 will be considered qualifying dividend income, subject to taxation at long-term capital gains 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 no greater than 15%. 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 the Fund shares could change. The final determination of tax characteristics of the Fund's distributions will not occur until after the end of the year, at which time it will be reported to shareholders. In order for Fund distributions of qualified dividend income to be taxable at long-term capital gains rates, a shareholder must meet certain prescribed holding periods and other requirements with respect to his or her shares. Shareholders should consult with their tax advisor A tax advisor is a financial expert especially trained in tax law. Some countries require tax advisors to verify the balance sheets of companies above a certain size. Individuals usually require tax advisors to minimize taxation, to avoid learning the details of tax law in for more information about their particular tax situation. The Fund's investment objective is to achieve after-tax total return for its shareholders. The Fund invests primarily in a diversified portfolio of common and preferred stocks that pay dividends that qualify for federal income taxation at long-term capital gain rates ("tax-favored dividends"). In selecting investments, the Fund primarily seeks stocks that produce attractive levels of tax-favored dividend income and which are, in the opinion of the investment adviser, 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 other similar investments. For its investments in common stocks, the Fund also seeks to invest in securities that the investment adviser 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 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. under the symbol EV. Eaton Vance and its affiliates had over $108.5 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 October 31, 2005. Eaton Vance Management will make available periodic summary information regarding portfolio investments. Those interested should call Eaton Vance at (617) 482-8260. |
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