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Mon, January 12, 2009
Sun, January 11, 2009
Fri, January 9, 2009 Eaton Vance Short Duration Diversified Income Fund Report of Earnings as of October 31, 2008
BOSTON--([ BUSINESS WIRE ])--Eaton Vance Short Duration Diversified Income Fund (NYSE: EVG), a diversified closed-end investment company, today announced the earnings of the Fund for the three months ended October 31, 2008 and for the year ended October 31, 2008. The Fund's fiscal year ended on October 31, 2008.
For the three months ended October 31, 2008, the Fund had net investment income of $5,613,624 ($0.297 per common share). For the year ended October 31, 2008, the Fund had net investment income of $21,662,998 ($1.147 per common share). In comparison, for the three months ended October 31, 2007, the Fund had net investment income of $3,258,421 ($0.173 per common share). For the year ended October 31, 2007, the Fund had net investment income of $21,313,467 ($1.129 per common share).
Net realized and unrealized losses for the three months ended October 31, 2008 were $44,795,089 ($2.371 per common share) and net realized and unrealized losses for the year ended October 31, 2008 were $62,741,623 ($3.321 per common share). In comparison, net realized and unrealized losses for the three months ended October 31, 2007 were $6,993,846 ($0.370 per common share) and net realized and unrealized gains for the year ended October 31, 2007 were $7,273,488 ($0.381 per common share).
On October 31, 2008, net assets of the Fund were $282,735,005. The net asset value per share on October 31, 2008 was $14.97 based on 18,886,596 shares outstanding. In comparison, on October 31, 2007, net assets applicable to common shares of the Fund were $349,620,275. The net asset value per common share on October 31, 2007 was $18.51 based on 18,886,596 common shares outstanding.
The Fund is managed by Eaton Vance Management. Eaton Vance and its affiliates had $123.1 billion in assets under management as of October 31, 2008. Eaton Vance Management will make available periodic summary information regarding portfolio investments. Those interested should call Eaton Vance Marketing at (800) 262-1122.
| EATON VANCE SHORT DURATION DIVERSIFIED INCOME FUND | |||||||||||||||||||||||||||
| SUMMARY OF RESULTS OF OPERATIONS | |||||||||||||||||||||||||||
| (in thousands, except per share amounts) | |||||||||||||||||||||||||||
| Three Months Ended | Year Ended | ||||||||||||||||||||||||||
| October 31, | October 31, | ||||||||||||||||||||||||||
| 2008 | 2007 | 2008 | 2007 | ||||||||||||||||||||||||
| Gross investment income | $ | 6,750 | $ | 4,217 | $ | 25,679 | $ | 25,240 | |||||||||||||||||||
| Operating expenses | (1,136 | ) | (959 | ) | (4,016 | ) | (3,927 | ) | |||||||||||||||||||
| Net investment income | $ | 5,614 | $ | 3,258 | $ | 21,663 | $ | 21,313 | |||||||||||||||||||
| Net realized and unrealized gains (losses) on investments | |||||||||||||||||||||||||||
| ($44,795 | ) | $ | 6,994 | ($62,742 | ) | $ | 7,273 | ||||||||||||||||||||
| Net increase (decrease) in net assets from operations | |||||||||||||||||||||||||||
| ($39,181 | ) | $ | 10,252 | ($41,079 | ) | $ | 28,586 | ||||||||||||||||||||
Earnings per Common Share Outstanding | |||||||||||||||||||||||||||
| Gross investment income | $ | 0.358 | $ | 0.224 | $ | 1.360 | $ | 1.337 | |||||||||||||||||||
| Operating expenses | (0.061 | ) | (0.051 | ) | (0.213 | ) | (0.208 | ) | |||||||||||||||||||
| Net investment income | $ | 0.297 | $ | 0.173 | $ | 1.147 | (1 | ) | $ | 1.129 | (1 | ) | |||||||||||||||
| Net realized and unrealized gains (losses) on investments | |||||||||||||||||||||||||||
| ($2.371 | ) | $ | 0.370 | ($3.321 | ) | $ | 0.381 | ||||||||||||||||||||
| Net increase (decrease) in net assets from operations | |||||||||||||||||||||||||||
| ($2.074 | ) | $ | 0.543 | ($2.174 | ) | $ | 1.510 | ||||||||||||||||||||
Net Asset Value at October 31 (Common Shares) | |||||||||||||||||||||||||||
| Net assets (000) | $ | 282,735 | $ | 349,620 | |||||||||||||||||||||||
| Shares outstanding (000) | 18,887 | 18,887 | |||||||||||||||||||||||||
| Net asset value per share outstanding | $ | 14.97 | $ | 18.51 | |||||||||||||||||||||||
Market Value Summary (Common Shares) | |||||||||||||||||||||||||||
| Market price on NYSE at October 31 | $ | 12.62 | $ | 16.50 | |||||||||||||||||||||||
| High market price (period ended October 31) | $ | 16.93 | $ | 19.10 | |||||||||||||||||||||||
| Low market price (period ended October 31) | $ | 10.09 | $ | 15.74 | |||||||||||||||||||||||
(1) | For federal income tax purposes estimated net investment income per share for the year ended October 31, 2008 and October 31, 2007 were $1.394 and $1.437, respectively. | ||||||||||||||||||||||||||
