Eaton Vance Tax-Managed Dividend Income Fund Declares Monthly Dividend and a Special Dividend.BOSTON Boston, town, England Boston, town (1991 pop. 26,495), E central England, on the Witham River. Boston's fame as a port dates from the 13th cent., when it was a Hanseatic port trading wool and wine. Having recovered from a decline in the 18th and 19th cent. -- 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 (the "Fund"), a diversified diversified (di·verˑ·s open-end management investment company, today announced a dividend of $0.072 per share on the Fund's Class A shares and $0.065 on the Fund's Class B and Class C shares. These dividends represent the Fund's regularly scheduled monthly dividends plus a payment of a special dividend. The monthly dividend on the Fund's A shares is $0.055 per share. The monthly dividend on the Fund's B and C shares is $0.048 per share. The special dividend on the Fund's A shares is $0.017 per share. The special dividend on the Fund's B and C shares is $0.017 per share. The special dividend helps allow the Fund to meet its 2005 dividend 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. This monthly dividend and the special dividend will be reflected in the Fund's December 21, 2005 payment to shareholders of record on December 19, 2005. The special dividend is the result of several factors. These include the successful implementation of the Fund's dividend capture strategy, as well as the growth in dividends being paid by securities owned in the Fund's portfolio whether through increases in their regular dividend payments or, as in a number of cases, through special one-time dividends. The Fund estimates that virtually all of the income paid out 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 dividends may vary depending on a number of factors. As portfolio and market conditions change, the rate of dividends on the Fund's shares could change. The final determination of tax characteristics of the Fund's dividends 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 pre·scribe v. pre·scribed, pre·scrib·ing, pre·scribes v.tr. 1. To set down as a rule or guide; enjoin. See Synonyms at dictate. 2. To order the use of (a medicine or other treatment). 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 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 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.
The following dividend distributions were declared this date:
Ex & Check &
Record Reinvestment Payable
FUND Type Rate Date Date Date
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Eaton Vance Tax-
Managed Dividend
Income Fund Class A Monthly $0.072 12/19/05 12/20/05 12/21/05
Eaton Vance Tax-
Managed Dividend
Income Fund Class B Monthly $0.065 12/19/05 12/20/05 12/21/05
Eaton Vance Tax-
Managed Dividend
Income Fund Class C Monthly $0.065 12/19/05 12/20/05 12/21/05
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