BOSTON, Dec. 18 /PRNewswire-FirstCall/ -- Dividend Income Fund, a diversified open-end management investment company, today declared the Fund's regular December 2009 monthly distribution of $0.044 per share on the Fund's Class A shares, $0.040 per share on the Fund's Class C shares, $0.046 per share on the Fund's Class I shares, and $0.042 per share on the Fund's Class R shares. The distribution will be paid on December 22, 2009 to shareholders of record on December 18, 2009. The ex-distribution date is December 21, 2009.
It is anticipated that the Fund will accelerate the declaration and payment of its January 2010 monthly distribution to avoid being subject to 2009 federal excise taxes. It is anticipated that this distribution will be paid at the beginning of January. In February 2010, the Fund expects to resume its regular monthly declaration and payment schedule.
Beginning with the January 2010 distribution, the Fund's monthly distribution rate is expected to be reduced by approximately 12% for each class of shares. The adjustment in the Fund's monthly distribution rate primarily reflects anticipated reductions in the amount of dividend income the Fund expects to receive due to the ongoing pressures on corporate dividend rates and costs of implementing the Fund's dividend capture trading strategy.
As portfolio and market conditions change, the rate of distributions paid by the Fund could change. The final determination of tax characteristics of the Fund's distributions will not occur until after the end of each year, at which time it will be reported to shareholders.
The Funds are managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp. , 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 $154.9 billion in assets as of October 31, 2009, 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 http://www.eatonvance.com/.
Before investing, prospective investors should consider carefully a fund's investment objective(s), risks, and charges and expenses. A fund's current prospectus contains this and other information and is available through your financial advisor.
Mutual fund shares are not insured by the FDIC and are not deposits or other obligations of, or guaranteed by, any depository institution. Shares are subject to investment risks, including possibility of loss of principal invested. Past performance is no guarantee of future results.
Eaton Vance Management
CONTACT: Investors, Eaton Vance Management, 1-800-262-1122
Web Site: http://www.eatonvance.com/
