Eaton Vance Corp. raised $1.4 billion in the share sale of a fund that enables investors to benefit from legislation that lowered taxes on dividends, Bloomberg reports.
To do this, the firm issued 70 million shares in the Eaton Vance Tax-Advantaged Global Dividend Income fund
at $20 each, the Boston company said. The fund is managed by Michael R. Mach
, Judith A. Saryan
, and Thomas H. Luster
, invests primarily in dividend-paying common and preferred stocks of domestic and foreign issuers.
Under US law enacted May 28, dividends are taxed at long-term capital gains rates, with a maximum of 15 percent.
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