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Eaton Vance Tax-Managed Diversified Equity Income Fund Report Of Earnings

BOSTON, Jan. 21, 2014 /PRNewswire/ -- Eaton Vance Tax-Managed Diversified Equity Income Fund (NYSE: ETY) (the "Fund"), a closed-end management investment company, today announced the earnings of the Fund for the three months and year ended October 31, 2013. The Fund's fiscal year ended on October 31, 2013.

For the three months ended October 31, 2013, the Fund had net investment income of $11,657,005 ($0.078 per share). For the year ended October 31, 2013, the Fund had net investment income of $29,178,297 ($0.195 per share). In comparison, for the three months ended October 31, 2012, the Fund had net investment income of $4,267,065 ($0.028 per share). For the year ended October 31, 2012, the Fund had net investment income of $21,018,094 ($0.138 per share).

Net realized and unrealized gains for the three months ended October 31, 2013 were $69,079,595 ($0.463 per share). Net realized and unrealized gains for the year ended October 31, 2013 were $269,193,046 ($1.798 per share). In comparison, net realized and unrealized gains for the three months ended October 31, 2012 were $45,874,909 ($0.303 per share). Net realized and unrealized gains for the year ended October 31, 2012 were $161,640,039 ($1.062 per share).

On October 31, 2013, net assets of the Fund were $1,775,014,697. The net asset value per share on October 31, 2013 was $11.87 based on 149,584,220 shares outstanding. In comparison, on October 31, 2012, net assets of the Fund were $1,654,325,965. The net asset value per share on October 31, 2012 was $10.96 based on 150,969,916 shares outstanding.

The Fund periodically makes certain performance data and information about portfolio characteristics available on www.eatonvance.com (on the fund information page under "Individual Investors – Closed-End Funds"). Fund portfolio holdings for the most recent month-end are also posted to the website approximately 30 days following month-end.

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 $283.3 billion in assets as of December 31, 2013, 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.

EATON VANCE TAX-MANAGED DIVERSIFIED EQUITY INCOME FUND

SUMMARY OF RESULTS OF OPERATIONS

(in thousands, except per share amounts)




















Three Months Ended


Year Ended







October 31,


October 31,







2013


2012


2013


2012

Gross investment income




$           16,339


$           8,791


$        47,654


$           38,756

Operating expenses





(4,682)


(4,524)


(18,476)


(17,738)


Net investment income



$           11,657


$           4,267


$        29,178


$           21,018

Net realized and unrealized gains (losses)









  on investments





$           69,080


$         45,875


$      269,193


$         161,640


Net increase (decrease) in net assets









  from operations




$           80,737


$         50,142


$      298,371


$         182,658














Earnings per Share Outstanding










Gross investment income




$             0.109


$           0.057


$           0.318


$             0.254

Operating expenses





(0.031)


(0.029)


(0.123)


(0.116)


Net investment income 



$             0.078


$           0.028


$           0.195


$             0.138

Net realized and unrealized gains (losses)









  on investments





$             0.463


$           0.303


$           1.798


$             1.062


Net increase (decrease) in net assets









  from operations




$             0.541


$           0.331


$           1.993


$             1.200



























Net Asset Value at October 31











Net assets  








$   1,775,015


$     1,654,326


Shares outstanding 







149,584


150,970


Net asset value per share outstanding





$           11.87


$             10.96














Market Value Summary 












Market price on NYSE at October 31





$           10.72


$               9.51


High market price (period ended October 31)





$           10.78


$               9.88


Low market price (period ended October 31)




$             9.08


$               8.39














 

SOURCE Eaton Vance Management

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