BOSTON, Nov. 30, 2011 /PRNewswire/ -- Eaton Vance
Tax-Managed Diversified Equity Income Fund (NYSE: ETY) today
announced important information concerning its distribution
declared in November 2011. This press release is issued as
required by the Fund's managed distribution plan (Plan) and an
exemptive order received from the U.S. Securities and Exchange
Commission. The Board of Trustees has approved the
implementation of the Plan to make quarterly cash distributions to
common shareholders, stated in terms of a fixed amount per common
share. This information is sent to you for informational purposes
only and is an estimate of the sources of the November
distribution. It is not determinative of the tax character of
the Fund's distributions for the 2011 calendar year. Shareholders
should note that the Fund's total regular distribution amount is
subject to change as a result of market conditions or other
factors.
The amounts and sources of distributions reported in this notice
are estimates, are not being provided for tax reporting purposes
and the distribution may later be determined to be from other
sources including realized short-term gains, long-term gains, to
the extent permitted by law, and return of capital. The actual
amounts and sources for tax reporting purposes will depend upon the
Fund's investment experience during the remainder of its fiscal
year and may be subject to changes based on tax regulations.
The Fund will send you a Form 1099-DIV for the calendar year that
will tell you how to report these distributions for federal income
tax purposes.
Distribution Period: November 2011
Distribution Amount per Common Share: $0.2895
The following table sets forth an estimate of the sources of the
Fund's November distribution and its cumulative distributions paid
this fiscal year to date. Amounts are expressed on a per
common share basis and as a percentage of the distribution
amount.
Eaton Vance Tax-Managed Diversified Equity Income Fund
|
Source
|
Current
Distribution
|
% of
Current
Distribution
|
Cumulative
Distributions for the
Fiscal Year-to-Date(1)
|
% of
the Cumulative
Distributions for the Fiscal
Year-to-Date(1)
|
Net Investment Income
|
$0.0261
|
9.0%
|
$0.0261
|
9.0%
|
Net Realized Short-Term
Capital Gains
|
$0.0000
|
0.0%
|
$0.0000
|
0.0%
|
Net Realized Long-Term
Capital Gains
|
$0.0000
|
0.0%
|
$0.0000
|
0.0%
|
Return of Capital or Other
Capital Source(s)
|
$0.2634
|
91.0%
|
$0.2634
|
91.0%
|
Total per common share
|
$0.2895
|
100.0%
|
$0.2895
|
100.0%
|
(1) The
Fund's fiscal year is November 1, 2011 to October 31, 2012
|
IMPORTANT DISCLOSURE: You should not draw any
conclusions about the Fund's investment performance from the amount
of this distribution or from the terms of the Fund's Plan.
The Fund estimates that it has distributed more than its income and
net realized capital gains; therefore, a portion of your
distribution may be a return of capital. A return of capital may
occur for example, when some or all of the money that you invested
in the Fund is paid back to you. A return of capital distribution
does not necessarily reflect the Fund's investment performance and
should not be confused with 'yield' or 'income.' The amounts
and sources of distributions reported in this Notice are only
estimates and are not being provided for tax reporting
purposes. The actual amounts and sources of the amounts for
accounting and/or tax reporting purposes will depend upon the
Fund's investment experience during the remainder of its fiscal
year and may be subject to changes based on tax regulations. The
Fund will send you a Form 1099-DIV for the calendar year that will
tell you how to report these distributions for federal income tax
purposes.
Set forth in the table below is information relating to the
Fund's performance based on its net asset value (NAV) for certain
periods.
Average annual total return
at NAV for the period from inception through October 31,
2011(1)
|
2.26%
|
Annualized current
distribution rate expressed as a percentage of NAV as of October
31, 2011(2)
|
10.69%
|
Cumulative total return at
NAV for the fiscal year through October 31, 2011(3)
|
-0.27%
|
Cumulative fiscal year to
date distribution rate as a percentage of NAV as of October
31, 2011(4)
|
11.77%
|
(1) Average annual total
return at NAV represents the simple arithmetic average of the
annual NAV total returns of the Fund for the period from inception
(11/30/2006) through October 31, 2011.
(2) The annualized current
distribution rate is the cumulative distribution rate annualized as
a percentage of the Fund's NAV as of October 31, 2011.
(3) Cumulative total return
at NAV is the percentage change in the Fund's NAV for the period
from the beginning of its fiscal year to October 31, 2011 including
distributions paid and assuming reinvestment of those
distributions.
(4) Cumulative fiscal year
distribution rate for the period from the beginning of its fiscal
year to October 31, 2011 measured on the dollar value of
distributions in the year-to-date period as a percentage of the
Fund's NAV as of October 31, 2011.
|
The Funds are 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 $188.2 billion
in assets as of October 31, 2011,
offering individuals and institutions a broad array of investment
products 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.
SOURCE Eaton Vance Management