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

16 Apr, 2014, 12:46 ET from Eaton Vance Management

BOSTON, April 16, 2014 /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 months ended January 31, 2014. The Fund's fiscal year ends on October 31, 2014.

For the three months ended January 31, 2014, the Fund had net investment income of $2,667,891 ($0.018 per share). In comparison, for the three months ended January 31, 2013, the Fund had net investment income of $6,167,392 ($0.041 per share).

Net realized and unrealized gains for the three months ended January 31, 2014 were $36,664,201 ($0.245 per share). In comparison, net realized and unrealized gains for the three months ended January 31, 2013 were $100,279,883 ($0.667 per share).

On January 31, 2014, net assets of the Fund were $1,775,036,656. The net asset value per share on January 31, 2014 was $11.88 based on 149,444,220 shares outstanding. In comparison, on January 31, 2013, net assets of the Fund were $1,699,233,314. The net asset value per share on January 31, 2013 was $11.34 based on 149,827,516 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 $285.4 billion in assets as of March 31, 2014, 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

Three Months Ended

January 31,

January 31,

2014

2013

Gross investment income

$                              7,564

$                            10,710

Operating expenses

(4,896)

(4,543)

Net investment income

$                              2,668

$                              6,167

Net realized and unrealized gains (losses)

  on investments

36,664

100,280

Net increase (decrease) in net assets

  from operations

$                            39,332

$                         106,447

Earnings per Share Outstanding

Gross investment income

$                              0.051

$                              0.071

Operating expenses

(0.033)

(0.030)

Net investment income 

$                              0.018

$                              0.041

Net realized and unrealized gains (losses)

  on investments

0.245

0.667

Net increase (decrease) in net assets

  from operations

$                              0.263

$                              0.708

Net Asset Value at January 31

Net assets 

$                      1,775,037

$                      1,699,233

Shares outstanding 

149,444

149,828

Net asset value per share outstanding

$                              11.88

$                              11.34

Market Value Summary

Market price on NYSE at January 31

$                              10.79

$                              10.05

High market price (period ended January 31)

$                              11.22

$                              10.05

Low market price (period ended January 31)

$                              10.60

$                                9.08

 

SOURCE Eaton Vance Management



RELATED LINKS

http://www.eatonvance.com