Eaton Vance Raises A Billion
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Thursday, January 29, 2004

Eaton Vance Raises A Billion

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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