Eaton Vance Raises ETG Monthly Distribution 23.7% to $0.16

Eaton Vance raised the monthly distribution for Eaton Vance Tax-Advantaged Global Dividend Income Fund (NYSE: ETG) by 23.7% to $0.16 per share, setting a larger payment for Nov. 24.

The Nov. 2 declaration lifted the payment by $0.0307 from the previous $0.1293 per share. The new amount is the monthly distribution declared for the fund’s common shareholders.

Nov. 13 is both the ex-dividend date and the record date. The record date determines which shareholders qualify for a distribution. Investors who buy ETG on or after Nov. 13 will not receive this distribution. Eaton Vance scheduled the payment for Nov. 24.

ETG’s distribution rate at market price is 8.46%, based on the fund’s $22.70 closing price on Oct. 30. That rate describes the distribution measure, not the fund’s total return.

ETG is a closed-end fund listed on the New York Stock Exchange. It pays monthly under a managed distribution plan that targets stable payments. The plan allows distributions to include ordinary dividends, capital gains or return of capital, so the declared amount alone does not identify the sources of the November payment.

The Nov. 2 declaration did not provide an expected source breakdown. The payment’s final tax character will be determined after year-end. The monthly announcement therefore does not establish how the distribution will be classified for tax purposes.

A return-of-capital portion may repay some investor principal and reduce the fund’s net asset value. The distribution amount alone should not be treated as a measure of the fund’s investment performance or income. The fund’s plan targets stable monthly distributions, but payments of a particular size are not guaranteed.

The announced distribution is payable Nov. 24 to shareholders who qualify under the Nov. 13 record date.