Eaton Vance Tax-Managed Diversified Equity Income Fund (ETY) will pay $0.1094 per share on Nov. 30, following an increase announced by Eaton Vance on Nov. 2.
The new amount is $0.0102 above the prior $0.0992 monthly distribution, a 10.3% rise. The fund's primary aims are income and gains; it also seeks capital appreciation. The plan permits monthly payments to include investment income, realized gains or returned capital.
Annualizing the $0.1094 monthly payment gives a 9.62% distribution rate at the fund’s Oct. 30 closing price of $13.65. The rate describes scheduled distributions relative to market price; it does not show investment performance or portfolio income yield.
Eaton Vance will report the November distribution’s tax character after year-end on Form 1099-DIV. The company also raised the November payout for Eaton Vance Short Duration Diversified Income Fund (EVG), as detailed in EconoTimes’ report on EVG’s distribution.
Nov. 16 is both ETY’s record date and ex-dividend date, ahead of the Nov. 30 payment.
