Eaton Vance Tax-Managed Diversified Equity Income Fund Report Of Earnings

Nov 04, 2013, 11:51 ET from Eaton Vance Management

BOSTON, Nov. 4, 2013 /PRNewswire/ -- Eaton Vance Tax-Managed Diversified Equity Income Fund (NYSE: ETY) (the "Fund"), a closed-end management investment company, today announced the earnings of the Fund for the three and nine months ended July 31, 2013.  The Fund's fiscal year ended on October 31, 2013.

For the three months ended July 31, 2013, the Fund had net investment income of $5,666,845 ($0.038 per share). For the nine months ended July 31, 2013, the Fund had net investment income of $17,521,292 ($0.117 per share).  In comparison, for the three months ended July 31, 2012, the Fund had net investment income of $6,445,477 ($0.042 per share). For the nine months ended July 31, 2012, the Fund had net investment income of $16,751,029 ($0.110 per share).    

Net realized and unrealized gains for the three months ended July 31, 2013 were $40,089,836 ($0.266 per share).  Net realized and unrealized gains for the nine months ended July 31, 2013 were $200,113,451 ($1.335 per share). In comparison, net realized and unrealized losses for the three months ended July 31, 2012 were $16,738,161 ($0.112 per share).  Net realized and unrealized gains for the nine months ended July 31, 2012 were $115,765,130 ($0.759 per share).

On July 31, 2013, net assets of the Fund were $1,733,603,588. The net asset value per share on July 31, 2013 was $11.58 based on 149,722,516 shares outstanding. In comparison, on July 31, 2012, net assets of the Fund were $1,657,209,794. The net asset value per share on July 31, 2012 was $10.87 based on 152,472,416 shares outstanding.

The Fund periodically makes certain performance data and information about portfolio characteristics available on www.eatonvance.com (on the fund information page under "Individual Investors – Closed-End Funds"). Fund portfolio holdings for the most recent month-end are also posted to the website approximately 30 days following month-end.

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 $273.1 billion in assets as of September 30, 2013, 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-MANAGED DIVERSIFIED EQUITY INCOME FUND

SUMMARY OF RESULTS OF OPERATIONS

(in thousands, except per share amounts)

Three Months Ended

Nine Months Ended

July 31,

July 31,

2013

2012

2013

2012

Gross investment income

$           10,386

$         10,823

$        31,315

$           29,965

Operating expenses

(4,719)

(4,378)

(13,794)

(13,214)

Net investment income

$             5,667

$           6,445

$        17,521

$           16,751

Net realized and unrealized gains (losses)

  on investments

$           40,090

$        (16,738)

$      200,113

$         115,765

Net increase (decrease) in net assets

  from operations

$           45,757

$        (10,293)

$      217,634

$         132,516

Earnings per Share Outstanding

Gross investment income

$             0.070

$           0.071

$           0.209

$             0.197

Operating expenses

(0.032)

(0.029)

(0.092)

(0.087)

Net investment income 

$             0.038

$           0.042

$           0.117

$             0.110

Net realized and unrealized gains (losses)

  on investments

$             0.266

$          (0.112)

$           1.335

$             0.759

Net increase (decrease) in net assets

  from operations

$             0.304

$          (0.070)

$           1.452

$             0.869

Net Asset Value at July 31

Net assets  

$   1,733,604

$     1,657,210

Shares outstanding 

149,723

152,472

Net asset value per share outstanding

$           11.58

$             10.87

Market Value Summary 

Market price on NYSE at July 31

$           10.51

$               9.26

High market price (period ended July 31)

$           10.78

$               9.88

Low market price (period ended July 31)

$             9.08

$               8.39

 

 

 

SOURCE Eaton Vance Management



RELATED LINKS

http://www.eatonvance.com