BOSTON, Jan. 11, 2011 /PRNewswire/ -- Eaton Vance
Tax-Managed Diversified Equity Income Fund (NYSE: ETY) (the
"Fund"), a closed-end investment company, today announced the
earnings of the Fund for the three months and year ended
October 31, 2010. The Fund's
fiscal year ended on October 31,
2010.
For the three months ended October 31,
2010, the Fund had net investment income of $3,525,292 ($0.023
per share). For the year ended October 31,
2010, the Fund had net investment income of $20,929,619 ($0.138
per share). In comparison, for the three months ended
October 31, 2009, the Fund had net
investment income of $4,314,646
($0.028 per share). For the
year ended October 31, 2009, the Fund
had net investment income of $27,911,994 ($0.186
per share).
Net realized and unrealized gains for the three months ended
October 31, 2010 were $103,108,404 ($0.673 per share). Net realized and
unrealized gains for the year ended October
31, 2010 were $143,560,744
($0.941 per share). In comparison,
net realized and unrealized gains for the three months ended
October 31, 2009 were $69,091,217 ($0.467
per share). Net realized and unrealized gains for the year
ended October 31, 2009 were
$228,768,660 ($1.534 per share).
On October 31, 2010, net assets of
the Fund were $1,861,900,878. The net
asset value per share on October 31,
2010 was $12.21 based on
152,472,416 shares outstanding. In comparison, on October 31, 2009, net assets of the Fund were
$1,924,015,547. The net asset value
per share on October 31, 2009 was
$12.81 based on 150,236,255 shares
outstanding.
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 $185.2 billion
in assets as of October 31, 2010,
offering individuals and institutions a broad array of investment
strategies and wealth management solutions. The Company's long
record of providing exemplary service and attractive returns
through a variety of market conditions has made Eaton Vance the
investment manager of choice for many of today's most discerning
investors. For more information about Eaton Vance, visit
www.eatonvance.com.
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EATON VANCE
TAX-MANAGED DIVERSIFIED EQUITY INCOME FUND
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SUMMARY OF
RESULTS OF OPERATIONS
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(in
thousands, except per share amounts)
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Three Months
Ended
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Year
Ended
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October
31,
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October
31,
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2010
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2009
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2010
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2009
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Gross investment
income
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$ 8,477
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$ 9,367
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$
41,109
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$
47,286
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Operating expenses
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(4,952)
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(5,052)
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(20,180)
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(19,374)
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Net investment income
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$ 3,525
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$ 4,315
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$
20,929
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$
27,912
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Net realized and unrealized
gains (losses)
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on investments
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$ 103,109
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$ 69,092
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$
143,561
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$
228,769
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Net increase (decrease) in net
assets
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from operations
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$
106,634
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$
73,407
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$
164,490
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$
256,681
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Earnings per Share
Outstanding
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Gross investment
income
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$ 0.055
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$ 0.062
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$
0.271
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$
0.315
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Operating expenses
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(0.032)
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(0.034)
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(0.133)
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(0.129)
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Net investment income
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$ 0.023
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$ 0.028
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$
0.138
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$
0.186
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Net realized and unrealized
gains (losses)
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on investments
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$ 0.673
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$ 0.467
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$
0.941
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$
1.534
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Net increase (decrease) in net
assets
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from operations
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$
0.696
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$
0.495
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$
1.079
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$
1.720
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Net Asset Value at October
31
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Net assets
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$ 1,861,901
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$ 1,924,016
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Shares outstanding
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152,472
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150,236
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Net asset value per share
outstanding
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$
12.21
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$
12.81
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Market Value Summary
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Market price on NYSE at October
31
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$
11.62
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$
12.47
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High market price (period ended
October 31)
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$
13.94
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$
13.40
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Low market price (period ended
October 31)
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$
10.66
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$
7.87
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SOURCE Eaton Vance Management