Eaton Vance Tax-Managed 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-Managed Dividend Income Fund, a diversified open-end management investment company, today announced an increase in the monthly dividend being paid to all share classes. The monthly dividend on the Fund's A shares is being increased from $0.055 to $0.0605 per share. The monthly dividend on the Fund's B and C shares is being increased from $0.048 to $0.0525 per share. This dividend increase will be reflected in the Fund's May 22, 2006 dividend payment to shareholders of record on May 18, 2006. 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 May 19, 2006. 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 payments 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 as portfolio and market conditions change. 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 Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. that 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-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 $116.5 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 March 31, 2006. 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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