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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Eaton Vance Enhanced Equity Income Fund II | NYSE:EOS | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.70 | 2.88% | 24.97 | 24.97 | 24.36 | 24.39 | 246,954 | 22:00:00 |
| % Average Annual Total Returns 1 |
Inception Date | Six Months | One Year | Five Years | Ten Years |
| Fund at NAV | 01/31/2005 | 19.36% | 31.39% | 14.46% | 12.56% |
| Fund at Market Price | — | 20.96 | 31.54 | 13.14 | 12.94 |
| Russell 1000® Growth Index | — | 20.70% | 33.48% | 19.32% | 16.32% |
| Cboe S&P 500 BuyWrite Index SM |
— | 7.59 | 8.91 | 5.55 | 5.76 |
| Cboe NASDAQ-100 BuyWrite Index SM |
— | 8.26 | 12.30 | 6.56 | 7.30 |
| % Premium/Discount to NAV 2 |
|
| As of period end | (3.76)% |
| Distributions 3 |
|
| Total Distributions per share for the period | $0.803 |
| Distribution Rate at NAV | 8.08% |
| Distribution Rate at Market Price | 8.39 |
1 |
Depictions do not reflect the Fund’s option positions. Excludes cash and cash equivalents. |
1 |
Russell 1000® Growth Index is an unmanaged index of U.S. large-cap growth stocks. Cboe S&P 500 BuyWrite Index SM measures the performance of a hypothetical buy-write strategy on the S&P 500® Index. Cboe NASDAQ–100 BuyWrite IndexSM measures the performance of a theoretical portfolio that owns stocks included in the NASDAQ–100® Index and writes (sells) NASDAQ–100® Index covered call options. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index. |
2 |
The shares of the Fund often trade at a discount or premium to their net asset value. The discount or premium may vary over time and may be higher or lower than what is quoted in this report. For up-to-date premium/discount information, please refer to https://funds.eatonvance.com/closed-end-fund-prices.php. |
3 |
The Distribution Rate is based on the Fund’s last regular distribution per share in the period (annualized) divided by the Fund’s NAV or market price at the end of the period. The Fund’s distributions may be comprised of amounts characterized for federal income tax purposes as qualified and non-qualified ordinary dividends, capital gains and nondividend distributions, also known as return of capital. For additional information about nondividend distributions, please refer to Eaton Vance Closed-End Fund Distribution Notices (19a) posted on our website, eatonvance.com. The Fund will determine the federal income tax character of distributions paid to a shareholder after the end of the calendar year. This is reported on the IRS form 1099-DIV and provided to the shareholder shortly after each year-end. For information about the tax character of distributions made in prior calendar years, please refer to Performance-Tax Character of Distributions on the Fund’s webpage available at eatonvance.com. In recent years, a significant portion of the Fund’s distributions has been characterized as a return of capital. The Fund’s distributions are determined by the investment adviser based on its current assessment of the Fund’s long-term return potential. Fund distributions may be affected by numerous factors including changes in Fund performance, the cost of financing for leverage, portfolio holdings, realized and projected returns, and other factors. As portfolio and market conditions change, the rate of distributions paid by the Fund could change. |
| Fund profile subject to change due to active management. | |
| Important Notice to Shareholders | |
| On January 26, 2023, the Fund’s Board of Trustees voted to exempt, on a going forward basis, all prior and, until further notice, new acquisitions of Fund shares that otherwise might be deemed “Control Share Acquisitions” under the Fund’s By-Laws from the Control Share Provisions of the Fund’s By-Laws. |
| Written Covered Call Options (Exchange-Traded) — (0.6)% | |||||||
| Description | Number of Contracts |
Notional Amount |
Exercise Price |
Expiration Date |
Value | ||
| AbbVie, Inc. | 280 | $ | 4,802,560 | $ | 170 | 7/12/24 | $ (96,460) |
| Adobe, Inc. | 330 | 18,332,820 | 550 | 7/19/24 | (523,050) | ||
| Advanced Micro Devices, Inc. | 325 | 5,271,825 | 170 | 7/12/24 | (68,087) | ||
| Written Covered Call Options (Exchange-Traded) | |||||||
| Description | Number of Contracts |
Notional Amount |
Exercise Price |
Expiration Date |
Value | ||
| Alphabet, Inc., Class C | 2,780 | $ | 50,990,760 | $ | 195 | 7/26/24 | $ (624,110) |
| Amazon.com, Inc. | 2,575 | 49,761,875 | 210 | 8/2/24 | (1,036,437) | ||
| AMETEK, Inc. | 410 | 6,835,110 | 175 | 7/19/24 | (12,300) | ||
| Analog Devices, Inc. | 355 | 8,103,230 | 245 | 7/26/24 | (63,900) | ||
| Apple, Inc. | 1,990 | 41,913,380 | 215 | 7/12/24 | (353,225) | ||
| BJ's Wholesale Club Holdings, Inc. | 745 | 6,544,080 | 95 | 7/19/24 | (13,038) | ||
| Broadcom, Inc. | 90 | 14,449,770 | 1,820 | 7/19/24 | (125,100) | ||
| Burlington Stores, Inc. | 145 | 3,480,000 | 255 | 7/12/24 | (13,413) | ||
| Coca-Cola Co. | 695 | 4,423,675 | 65 | 7/12/24 | (9,730) | ||
| Copart, Inc. | 1,025 | 5,551,400 | 55 | 7/19/24 | (64,062) | ||
| CoStar Group, Inc. | 495 | 3,669,930 | 80 | 7/19/24 | (13,613) | ||
| Costco Wholesale Corp. | 110 | 9,349,890 | 895 | 7/19/24 | (19,800) | ||
| Elevance Health, Inc. | 75 | 4,063,950 | 550 | 7/19/24 | (58,500) | ||
| Eli Lilly & Co. | 210 | 19,012,980 | 930 | 7/19/24 | (225,225) | ||
| Fair Isaac Corp. | 25 | 3,721,650 | 1,640 | 8/16/24 | (75,683) | ||
| Fortinet, Inc. | 635 | 3,827,145 | 63 | 7/12/24 | (20,003) | ||
| Gartner, Inc. | 115 | 5,164,190 | 450 | 7/19/24 | (100,050) | ||
| HEICO Corp. | 230 | 5,143,030 | 240 | 7/19/24 | (51,750) | ||
| Home Depot, Inc. | 110 | 3,786,640 | 365 | 7/19/24 | (8,745) | ||
| Intercontinental Exchange, Inc. | 200 | 2,737,800 | 140 | 7/19/24 | (14,000) | ||
| Intuit, Inc. | 250 | 16,430,250 | 680 | 8/2/24 | (231,250) | ||
| Intuitive Surgical, Inc. | 185 | 8,229,725 | 450 | 7/19/24 | (209,975) | ||
| Lam Research Corp. | 140 | 14,907,900 | 1,110 | 7/19/24 | (266,000) | ||
| Meta Platforms, Inc., Class A | 385 | 19,412,470 | 550 | 7/26/24 | (382,112) | ||
| Microsoft Corp. | 1,360 | 60,785,200 | 465 | 7/26/24 | (676,600) | ||
| Netflix, Inc. | 165 | 11,135,520 | 725 | 7/19/24 | (211,200) | ||
| NIKE, Inc., Class B | 465 | 3,504,705 | 80 | 8/2/24 | (44,915) | ||
| NVIDIA Corp. | 5,450 | 67,329,300 | 140 | 7/19/24 | (621,300) | ||
| S&P Global, Inc. | 100 | 4,460,000 | 455 | 7/26/24 | (54,250) | ||
| Salesforce, Inc. | 350 | 8,998,500 | 255 | 7/26/24 | (300,125) | ||
| Shift4 Payments, Inc., Class A | 785 | 5,757,975 | 78 | 7/19/24 | (117,750) | ||
| Tesla, Inc. | 185 | 3,660,780 | 200 | 7/19/24 | (163,262) | ||
| Thermo Fisher Scientific, Inc. | 70 | 3,871,000 | 590 | 7/26/24 | (22,400) | ||
| TJX Cos., Inc. | 1,215 | 13,377,150 | 111 | 7/12/24 | (110,565) | ||
| Tradeweb Markets, Inc., Class A | 540 | 5,724,000 | 110 | 7/19/24 | (36,450) | ||
| Trane Technologies PLC | 200 | 6,578,600 | 350 | 7/19/24 | (19,500) | ||
| TransUnion | 730 | 5,413,680 | 75 | 7/19/24 | (135,050) | ||
| Uber Technologies, Inc. | 950 | 6,904,600 | 77 | 7/19/24 | (49,400) | ||
| Vertex Pharmaceuticals, Inc. | 65 | 3,046,680 | 485 | 7/12/24 | (13,000) | ||
| Visa, Inc., Class A | 485 | 12,729,795 | 285 | 7/26/24 | (44,620) | ||
| Walmart, Inc. | 695 | 4,705,845 | 68 | 7/12/24 | (42,047) | ||
| Waste Connections, Inc. | 380 | 6,663,680 | 180 | 7/19/24 | (70,300) | ||
| Total | $(7,412,352) | ||||||
| June 30, 2024 | |
| Assets | |
| Unaffiliated investments, at value (identified cost $453,841,297) | $1,191,833,215 |
| Affiliated investments, at value (identified cost $173,647) | 173,647 |
| Dividends receivable | 178,915 |
| Dividends receivable from affiliated investments | 29,565 |
| Receivable for premiums on written options | 120,597 |
| Tax reclaims receivable | 51,066 |
| Trustees' deferred compensation plan | 128,904 |
| Total assets | $1,192,515,909 |
| Liabilities | |
| Written options outstanding, at value (premiums received $9,126,460) | $7,412,352 |
| Payable for closed written options | 188,182 |
| Payable to affiliates: | |
| Investment adviser fee | 957,286 |
| Trustees' fees | 16,450 |
| Trustees' deferred compensation plan | 128,904 |
| Accrued expenses | 244,402 |
| Total liabilities | $8,947,576 |
| Net Assets | $1,183,568,333 |
| Sources of Net Assets | |
| Common shares, $0.01 par value, unlimited number of shares authorized | $523,074 |
| Additional paid-in capital | 468,543,305 |
| Distributable earnings | 714,501,954 |
| Net Assets | $1,183,568,333 |
| Net Asset Value Per Common Share | |
| Net assets ÷ common shares issued and outstanding | $22.63 |
| Six Months Ended | |
| June 30, 2024 | |
| Investment Income | |
| Dividend income (net of foreign taxes withheld of $11,620) | $3,187,889 |
| Dividend income from affiliated investments | 195,778 |
| Total investment income | $3,383,667 |
| Expenses | |
| Investment adviser fee | $5,507,857 |
| Trustees’ fees and expenses | 47,895 |
| Custodian fee | 158,990 |
| Transfer and dividend disbursing agent fees | 9,058 |
| Legal and accounting services | 57,476 |
| Printing and postage | 219,150 |
| Miscellaneous | 33,778 |
| Total expenses | $6,034,204 |
| Deduct: | |
| Waiver and/or reimbursement of expenses by affiliates | $5,481 |
| Total expense reductions | $5,481 |
| Net expenses | $6,028,723 |
| Net investment loss | $(2,645,056) |
| Realized and Unrealized Gain (Loss) | |
| Net realized gain (loss): | |
| Investment transactions | $48,102,965 |
| Written options | (24,597,341) |
| Foreign currency transactions | (70) |
| Net realized gain | $23,505,554 |
| Change in unrealized appreciation (depreciation): | |
| Investments | $172,789,642 |
| Written options | 689,195 |
| Net change in unrealized appreciation (depreciation) | $173,478,837 |
| Net realized and unrealized gain | $196,984,391 |
| Net increase in net assets from operations | $194,339,335 |
| Six Months Ended June 30, 2024 (Unaudited) |
Year Ended December 31, 2023 | |
| Increase (Decrease) in Net Assets | ||
| From operations: | ||
| Net investment loss | $(2,645,056) | $(2,539,294) |
| Net realized gain | 23,505,554 | 62,973,067 |
| Net change in unrealized appreciation (depreciation) | 173,478,837 | 219,114,128 |
| Net increase in net assets from operations | $194,339,335 | $279,547,901 |
| Distributions to shareholders | $(41,976,701) * |
$(66,534,651) |
| Tax return of capital to shareholders | $— | $(5,767,891) |
| Capital share transactions: | ||
| Proceeds from shelf offering, net of offering costs (see Note 5) | $— | $3,135,845 |
| Reinvestment of distributions | — | 682,078 |
| Net increase in net assets from capital share transactions | $— | $3,817,923 |
| Net increase in net assets | $152,362,634 | $211,063,282 |
| Net Assets | ||
| At beginning of period | $1,031,205,699 | $820,142,417 |
| At end of period | $1,183,568,333 | $1,031,205,699 |
| * | A portion of the distributions may be deemed a tax return of capital at year-end. See Note 2. |
| Six Months Ended June 30, 2024 (Unaudited) |
Year Ended December 31, | |||||
| 2023 | 2022 | 2021 | 2020 | 2019 | ||
| Net asset value — Beginning of period | $19.710 | $15.750 | $23.720 | $21.200 | $17.530 | $14.820 |
| Income (Loss) From Operations | ||||||
| Net investment loss (1) |
$(0.051) | $(0.049) | $(0.020) | $(0.082) | $(0.063) | $(0.026) |
| Net realized and unrealized gain (loss) | 3.774 | 5.389 | (6.352) | 3.971 | 4.819 | 4.015 |
| Total income (loss) from operations | $3.723 | $5.340 | $(6.372) | $3.889 | $4.756 | $3.989 |
| Less Distributions | ||||||
| From net investment income | $(0.803)* | $— | $— | $— | $— | $— |
| From net realized gain | — | (1.272) | (1.062) | (1.284) | (0.037) | (1.284) (2) |
| Tax return of capital | — | (0.110) | (0.541) | (0.094) | (1.050) | — |
| Total distributions | $(0.803) | $(1.382) | $(1.603) | $(1.378) | $(1.087) | $(1.284) |
| Premium from common shares sold through shelf offering (see Note 5) (1) |
$— | $0.002 | $0.005 | $0.009 | $0.001 | $0.005 |
| Net asset value — End of period | $22.630 | $19.710 | $15.750 | $23.720 | $21.200 | $17.530 |
| Market value — End of period | $21.780 | $18.720 | $16.550 | $24.590 | $21.690 | $17.830 |
| Total Investment Return on Net Asset Value (3) |
19.36% (4) |
35.54% | (27.40)% | 18.82% | 28.55% | 27.71% |
| Total Investment Return on Market Value (3) |
20.96% (4) |
22.51% | (26.42)% | 20.40% | 29.31% | 31.22% |
| Ratios/Supplemental Data | ||||||
| Net assets, end of period (000’s omitted) | $1,183,568 | $1,031,206 | $820,142 | $1,212,024 | $1,055,567 | $859,315 |
| Ratios (as a percentage of average daily net assets): | ||||||
| Expenses | 1.09% (5)(6) |
1.09% (6) |
1.09% (6) |
1.08% | 1.09% | 1.09% |
| Net investment loss | (0.48)% (5) |
(0.27)% | (0.11)% | (0.36)% | (0.35)% | (0.16)% |
| Portfolio Turnover | 11% (4) |
27% | 15% | 18% | 38% | 40% |
(1) |
Computed using average shares outstanding. |
(2) |
The tax character of a portion of the distribution ($0.069 per share) was based on management’s estimate and was subsequently determined to be $0.063 per share of tax return of capital and $0.006 per share from net realized gain. |
(3) |
Returns are historical and are calculated by determining the percentage change in net asset value or market value with all distributions reinvested. Distributions are assumed to be reinvested at prices obtained under the Fund's dividend reinvestment plan. |
(4) |
Not annualized. |
(5) |
Annualized. |
(6) |
Includes a reduction by the investment adviser of a portion of its adviser fee due to the Fund’s investment in the Liquidity Fund (equal to less than 0.005% of average daily net assets for the six months ended June 30, 2024 and the years ended December 31, 2023 and 2022). |
| * | A portion of the distributions may be deemed from net realized gain or a tax return of capital at year-end. See Note 2. |
| Aggregate cost | $444,917,411 |
| Gross unrealized appreciation | $747,313,427 |
| Gross unrealized depreciation | (7,636,328) |
| Net unrealized appreciation | $739,677,099 |
| Fair Value | ||
| Derivative | Asset Derivative | Liability Derivative (1) |
| Written options | $ — | $(7,412,352) |
(1) |
Statement of Assets and Liabilities location: Written options outstanding, at value. |
| Derivative | Realized Gain (Loss) on Derivatives Recognized in Income (1) |
Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income (2) |
| Written options | $(24,597,341) | $689,195 |
(1) |
Statement of Operations location: Net realized gain (loss): Written options. |
(2) |
Statement of Operations location: Change in unrealized appreciation (depreciation): Written options. |
| Name | Value, beginning of period |
Purchases | Sales proceeds |
Net realized gain (loss) |
Change in unrealized appreciation (depreciation) |
Value, end of period |
Dividend income |
Shares, end of period |
| Short-Term Investments | ||||||||
| Liquidity Fund | $3,503,042 | $70,536,265 | $(73,865,660) | $ — | $ — | $173,647 | $195,778 | 173,647 |
| • | Level 1 – quoted prices in active markets for identical investments |
| • | Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.) |
| • | Level 3 – significant unobservable inputs (including a fund's own assumptions in determining the fair value of investments) |
| Asset Description | Level 1 | Level 2 | Level 3 | Total |
| Common Stocks | $1,191,833,215* | $ — | $ — | $1,191,833,215 |
| Short-Term Investments | 173,647 | — | — | 173,647 |
| Total Investments | $ 1,192,006,862 | $ — | $ — | $1,192,006,862 |
| Liability Description | ||||
| Written Covered Call Options | $ (7,412,352) | $ — | $ — | $ (7,412,352) |
| Total | $ (7,412,352) | $ — | $ — | $ (7,412,352) |
| * | The level classification by major category of investments is the same as the category presentation in the Portfolio of Investments. |
| Number of Shares | ||||
| Nominees for Trustee | For | Withheld | ||
| Alan C. Bowser | 41,062,562 | 1,590,926 | ||
| George J. Gorman | 41,024,590 | 1,628,898 | ||
| Susan J. Sutherland | 41,053,887 | 1,599,601 | ||
| Nancy A. Wiser | 41,080,030 | 1,573,458 | ||
| Officers | |
| R. Kelly Williams, Jr. President |
Nicholas S. Di Lorenzo Secretary |
| Deidre E. Walsh Vice President and Chief Legal Officer |
Laura T. Donovan Chief Compliance Officer |
| James F. Kirchner Treasurer |
|
| Trustees |
| U.S. Customer Privacy Notice | March 2024 |
| FACTS | WHAT DOES EATON VANCE DO WITH YOUR PERSONAL INFORMATION? |
| Why? |
Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. |
| What? |
The types of personal information we collect and share depend on the product or service you have with us. This information can include:■ Social Security number and income ■ investment experience and risk tolerance ■ checking account information and wire transfer instructions |
| How? |
All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons Eaton Vance chooses to share; and whether you can limit this sharing. |
| Reasons we can share your personal information | Does Eaton Vance share? |
Can you limit this sharing? |
| For our everyday business purposes — such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus |
Yes | No |
| For our marketing purposes — to offer our products and services to you |
Yes | No |
| For joint marketing with other financial companies | No | We don’t share |
| For our affiliates’ everyday business purposes — information about your transactions and experiences |
Yes | No* |
| For our affiliates’ everyday business purposes — information about your creditworthiness |
Yes | Yes* |
| For our affiliates to market to you | Yes | Yes* |
| For nonaffiliates to market to you | No | We don’t share |
| To limit our sharing |
Call toll-free 1-800-262-1122 or email: EVPrivacy@eatonvance.com Please note: If you are a new customer, we can begin sharing your information 30 days from the date we sent this notice. When you are no longer our customer, we continue to share your information as described in this notice. However, you can contact us at any time to limit our sharing. |
| Questions? |
Call toll-free 1-800-262-1122 or email: EVPrivacy@eatonvance.com |
| U.S. Customer Privacy Notice — continued | March 2024 |
| Who we are | |
| Who is providing this notice? | Eaton Vance Management and our investment management affiliates (“Eaton Vance”) (see Affiliates definition below.) |
| What we do | |
| How does Eaton Vance protect my personal information? |
To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings. We have policies governing the proper handling of customer information by personnel and requiring third parties that provide support to adhere to appropriate security standards with respect to such information. |
| How does Eaton Vance collect my personal information? |
We collect your personal information, for example, when you■ open an account or make deposits or withdrawals from your account ■ buy securities from us or make a wire transfer ■ give us your contact informationWe also collect your personal information from others, such as credit bureaus, affiliates, or other companies. |
| Why can’t I limit all sharing? | Federal law gives you the right to limit only■ sharing for affiliates’ everyday business purposes — information about your creditworthiness ■ affiliates from using your information to market to you ■ sharing for nonaffiliates to market to youState laws and individual companies may give you additional rights to limit sharing. (See below for more on your rights under state law.) |
| What happens when I limit sharing for an account I hold jointly with someone else? |
Your choices will apply to everyone on your account. |
| Definitions | |
| Affiliates | Companies related by common ownership or control. They can be financial and nonfinancial companies.■ Our affiliates include registered investment advisers such as Eaton Vance Management, Eaton Vance Advisers International Ltd., Boston Management and Research, Calvert Research and Management, Parametric Portfolio Associates LLC, Atlanta Capital Management Company LLC, Morgan Stanley Investment Management Inc., Morgan Stanley Investment Management Co.; registered broker-dealers such as Morgan Stanley Distributors Inc. and Eaton Vance Distributors, Inc. (together, the “Investment Management Affiliates”); and companies with a Morgan Stanley name and financial companies such as Morgan Stanley Smith Barney LLC and Morgan Stanley & Co. (the “Morgan Stanley Affiliates”). |
| Nonaffiliates | Companies not related by common ownership or control. They can be financial and nonfinancial companies.■ Eaton Vance does not share with nonaffiliates so they can market to you. |
| Joint marketing | A formal agreement between nonaffiliated financial companies that together market financial products or services to you.■ Eaton Vance does not jointly market. |
| U.S. Customer Privacy Notice — continued | March 2024 |
| Other important information | |
| *PLEASE NOTE: Eaton Vance does not share your creditworthiness information or your transactions and experiences information with the Morgan Stanley Affiliates, nor does Eaton Vance enable the Morgan Stanley Affiliates to market to you. Your opt outs will prevent Eaton Vance from sharing your creditworthiness information with the Investment Management Affiliates and will prevent the Investment Management Affiliates from marketing their products to you.Vermont: Except as permitted by law, we will not share personal information we collect about Vermont residents with Nonaffiliates unless you provide us with your written consent to share such information. California: Except as permitted by law, we will not share personal information we collect about California residents with Nonaffiliates and we will limit sharing such personal information with our Affiliates to comply with California privacy laws that apply to us. |
| (a) |
| (b) | Not applicable. |
Item 2. Code of Ethics
Not required in this filing.
Item 3. Audit Committee Financial Expert
Not required in this filing.
Item 4. Principal Accountant Fees and Services
Not required in this filing.
Item 5. Audit Committee of Listed Registrants
Not required in this filing.
Item 6. Schedule of Investments
| (a) | Please see schedule of investments contained in the Report to Stockholders included under Item 1 of this Form N-CSR. |
| (b) | Not applicable. |
Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies
Not applicable.
Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies
Not applicable.
Item 9. Proxy Disclosures for Open-End Management Investment Companies
Not applicable.
Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies
Not applicable.
Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract
The information is included in Item 1 of this Form N-CSR.
Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
Not required in this filing.
Item 13. Portfolio Managers of Closed-End Management Investment Companies
Not required in this filing.
Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
No such purchases this period.
Item 15. Submission of Matters to a Vote of Security Holders
There have been no material changes to the procedures by which shareholders may recommend nominee to the Fund’s Board of Trustees since the Fund last provided disclosure in response to this item.
Item 16. Controls and Procedures
| (a) | It is the conclusion of the registrant’s principal executive officer and principal financial officer that the effectiveness of the registrant’s current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant has been recorded, processed, summarized and reported within the time period specified in the Commission’s rules and forms and that the information required to be disclosed by the registrant has been accumulated and communicated to the registrant’s principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure. |
| (b) | There have been no changes in the registrant’s internal controls over financial reporting during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies
No activity to report for the registrant’s most recent fiscal year end.
Item 18. Recovery of Erroneously Awarded Compensation
Not applicable.
Item 19. Exhibits
| (a)(1) | Registrant’s Code of Ethics – Not applicable (please see Item 2). | |
| (a)(2)(i) | Principal Financial Officer’s Section 302 certification. | |
| (a)(2)(ii) | Principal Executive Officer’s Section 302 certification. | |
| (b) | Combined Section 906 certification. | |
| (c) | Registrant’s notices to shareholders pursuant to Registrant’s exemptive order granting an exemption from Section 19(b) of the 1940 Act and Rule 19b-1 thereunder regarding distributions paid pursuant to the Registrant’s Managed Distribution Plan. | |
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Eaton Vance Enhanced Equity Income Fund II
| By: | /s/ R. Kelly Williams, Jr. | |
| R. Kelly Williams, Jr. | ||
| Principal Executive Officer | ||
| Date: | August 23, 2024 | |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
| By: | /s/ James F. Kirchner | |
| James F. Kirchner | ||
| Principal Financial Officer | ||
| Date: | August 23, 2024 | |
| By: | /s/ R. Kelly Williams, Jr. | |
| R. Kelly Williams, Jr. | ||
| Principal Executive Officer | ||
| Date: | August 23, 2024 | |
Eaton Vance Enhanced Equity Income Fund II
FORM N-CSR
Exhibit 19(a)(2)(i)
CERTIFICATION
I, James F. Kirchner, certify that:
| 1. | I have reviewed this report on Form N-CSR of Eaton Vance Enhanced Equity Income Fund II; |
| 2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
| 3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; |
| 4. | The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: |
| (a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
| (b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
| (c) | Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and |
| (d) | Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and |
| 5. | The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): |
| (a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and |
| (b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. |
| Date: August 23, 2024 | /s/ James F. Kirchner | |||||
| James F. Kirchner | ||||||
| Principal Financial Officer |
Eaton Vance Enhanced Equity Income Fund II
FORM N-CSR
CERTIFICATION
I, R. Kelly Williams, Jr., certify that:
| 1. | I have reviewed this report on Form N-CSR of Eaton Vance Enhanced Equity Income Fund II; |
| 2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
| 3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; |
| 4. | The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: |
| (a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
| (b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
| (c) | Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and |
| (d) | Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and |
| 5. | The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): |
| (a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and |
| (b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. |
| Date: August 23, 2024 | /s/ R. Kelly Williams, Jr. | |||||
| R. Kelly Williams, Jr. | ||||||
| Principal Executive Officer |
Form N-CSR Item 19(b) Exhibit
CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
The undersigned hereby certify in their capacity as Principal Financial Officer and Principal Executive Officer, respectively, of Eaton Vance Enhanced Equity Income Fund II (the “Fund”), that:
| (a) | The Semi-Annual Report of the Fund on Form N-CSR for the period ended June 30, 2024 (the “Report”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and |
| (b) | The information contained in the Report fairly presents, in all material respects, the financial condition and the results of operations of the Fund for such period. |
A signed original of this written statement required by section 906 has been provided to the Fund and will be retained by the Fund and furnished to the Securities and Exchange Commission or its staff upon request.
Eaton Vance Enhanced Equity Income Fund II
| Date: August 23, 2024 |
| /s/ James F. Kirchner |
| James F. Kirchner |
| Principal Financial Officer |
| Date: August 23, 2024 |
| /s/ R. Kelly Williams, Jr. |
| R. Kelly Williams, Jr. |
| Principal Executive Officer |
Form N-CSR Item 19(c) Exhibit
Dear Eaton Vance Fund Shareholder:
This notice provides shareholders of the Eaton Vance Enhanced Equity Income Fund II (NYSE: EOS) with important information concerning the distribution declared in January 2024. You are receiving this notice as a requirement of the Fund’s managed distribution plan (Plan). The Board of Trustees approved the implementation of the Plan to make monthly cash distributions to common shareholders, stated in terms of a fixed amount per common share. This information is sent to you for informational purposes only and is an estimate of the sources of the January distribution. It is not determinative of the tax character of the Fund’s distributions for the 2024 calendar year.
The amounts and sources of distributions reported in this notice are estimates, are not being provided for tax reporting purposes and the distribution may later be determined to be from other sources including realized short-term gains, long-term gains, to the extent permitted by law, and return of capital. The actual amounts and sources for tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.
Distribution Period: January 2024
Distribution Amount per Common Share: $0.1152
The following table sets forth an estimate of the sources of the Fund’s January distribution and its cumulative distributions paid this fiscal year to date. Amounts are expressed on a per common share basis and as a percentage of the distribution amount.
| Eaton Vance Enhanced Equity Income Fund II | ||||||||||||||||
| Source |
Current Distribution |
% of Current Distribution |
Cumulative Distributions for the Fiscal Year-to-Date1 |
% of the Cumulative Distributions for the Fiscal Year-to-Date1 |
||||||||||||
| Net Investment Income |
$ | 0.0000 | 0.0 | % | $ | 0.0000 | 0.0 | % | ||||||||
| Net Realized Short-Term Capital Gains |
$ | 0.0000 | 0.0 | % | $ | 0.0000 | 0.0 | % | ||||||||
| Net Realized Long-Term Capital Gains |
$ | 0.0000 | 0.0 | % | $ | 0.0000 | 0.0 | % | ||||||||
| Return of Capital or Other Capital Source(s) |
$ | 0.1152 | 100.0 | % | $ | 0.1152 | 100.0 | % | ||||||||
| Total per common share |
$ | 0.1152 | 100.0 | % | $ | 0.1152 | 100.0 | % | ||||||||
| 1 | The Fund’s fiscal year is January 1, 2024 to December 31, 2024 |
IMPORTANT DISCLOSURE: You should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the terms of the Fund’s Plan. The Fund estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with ‘yield’ or ‘income.’ The amounts and sources of distributions reported in this Notice are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for accounting and/or tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.
Set forth in the table below is information relating to the Fund’s performance based on its net asset value (NAV) for certain periods.
| Average annual total return at NAV for the 5-year period ended on December 31, 20231 |
13.92 | % | ||
| Annualized current distribution rate expressed as a percentage of NAV as of December 31, 20232 |
7.01 | % | ||
| Cumulative total return at NAV for the fiscal year through December 31, 20233 |
35.54 | % | ||
| Cumulative fiscal year to date distribution rate as a percentage of NAV as of December 31, 20234 |
7.01 | % |
| 1 | Average annual total return at NAV represents the change in NAV of the Fund, with all distributions reinvested, for the 5-year period ended on December 31, 2023. |
| 2 | The annualized current distribution rate is the cumulative distribution rate annualized as a percentage of the Fund’s NAV as of December 31, 2023. |
| 3 | Cumulative total return at NAV is the percentage change in the Fund’s NAV for the period from the beginning of its fiscal year to December 31, 2023 including distributions paid and assuming reinvestment of those distributions. |
| 4 | Cumulative fiscal year distribution rate for the period from the beginning of its fiscal year to December 31, 2023 measured on the dollar value of distributions in the year-to-date period as a percentage of the Fund’s NAV as of December 31, 2023. |
If you have any questions regarding this information, please contact your investment advisor or an Eaton Vance Investor Services associate at 1-866-328-6681. Our associates are available to assist you Monday-Friday 8:30 a.m. to 5:30 p.m., Eastern Time.
NOTE: This correspondence is for informational purposes only and should not be relied upon to project the tax character of actual Fund distributions for the 2024 calendar year.
NO ACTION IS REQUIRED ON YOUR PART.
Eaton Vance Enhanced Equity Income Fund II
January 31, 2024
Dear Eaton Vance Fund Shareholder:
This notice provides shareholders of the Eaton Vance Enhanced Equity Income Fund II (NYSE: EOS) with important information concerning the distribution declared in February 2024. You are receiving this notice as a requirement of the Fund’s managed distribution plan (Plan). The Board of Trustees approved the implementation of the Plan to make monthly cash distributions to common shareholders, stated in terms of a fixed amount per common share. This information is sent to you for informational purposes only and is an estimate of the sources of the February distribution. It is not determinative of the tax character of the Fund’s distributions for the 2024 calendar year.
The amounts and sources of distributions reported in this notice are estimates, are not being provided for tax reporting purposes and the distribution may later be determined to be from other sources including realized short-term gains, long-term gains, to the extent permitted by law, and return of capital. The actual amounts and sources for tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.
Distribution Period: February 2024
Distribution Amount per Common Share: $0.1152
The following table sets forth an estimate of the sources of the Fund’s February distribution and its cumulative distributions paid this fiscal year to date. Amounts are expressed on a per common share basis and as a percentage of the distribution amount.
| Eaton Vance Enhanced Equity Income Fund II |
||||||||||||||||
| Source |
Current Distribution |
% of Current Distribution |
Cumulative Distributions for the Fiscal Year-to-Date1 |
% of the Cumulative Distributions for the Fiscal Year-to-Date1 |
||||||||||||
| Net Investment Income |
$ | 0.0000 | 0.0 | % | $ | 0.0000 | 0.0 | % | ||||||||
| Net Realized Short-Term Capital Gains |
$ | 0.0000 | 0.0 | % | $ | 0.0000 | 0.0 | % | ||||||||
| Net Realized Long-Term Capital Gains |
$ | 0.0000 | 0.0 | % | $ | 0.0000 | 0.0 | % | ||||||||
| Return of Capital or Other Capital Source(s) |
$ | 0.1152 | 100.0 | % | $ | 0.2304 | 100.0 | % | ||||||||
| Total per common share |
$ | 0.1152 | 100.0 | % | $ | 0.2304 | 100.0 | % | ||||||||
| 1 | The Fund’s fiscal year is January 1, 2024 to December 31, 2024 |
IMPORTANT DISCLOSURE: You should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the terms of the Fund’s Plan. The Fund estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with ‘yield’ or ‘income.’ The amounts and sources of distributions reported in this Notice are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for accounting and/or tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.
Set forth in the table below is information relating to the Fund’s performance based on its net asset value (NAV) for certain periods.
| Average annual total return at NAV for the 5-year period ended on January 31, 20241 |
12.78 | % | ||
| Annualized current distribution rate expressed as a percentage of NAV as of January 31, 20242 |
6.84 | % | ||
| Cumulative total return at NAV for the fiscal year through January 31, 20243 |
3.14 | % | ||
| Cumulative fiscal year to date distribution rate as a percentage of NAV as of January 31, 20244 |
0.57 | % |
1 Average annual total return at NAV represents the change in NAV of the Fund, with all distributions reinvested, for the 5-year period ended on January 31, 2024.
2 The annualized current distribution rate is the cumulative distribution rate annualized as a percentage of the Fund’s NAV as of January 31, 2024.
3 Cumulative total return at NAV is the percentage change in the Fund’s NAV for the period from the beginning of its fiscal year to January 31, 2024 including distributions paid and assuming reinvestment of those distributions.
4 Cumulative fiscal year distribution rate for the period from the beginning of its fiscal year to January 31, 2024 measured on the dollar value of distributions in the year-to-date period as a percentage of the Fund’s NAV as of January 31, 2024.
If you have any questions regarding this information, please contact your investment advisor or an Eaton Vance Investor Services associate at 1-866-328-6681. Our associates are available to assist you Monday-Friday 8:30 a.m. to 5:30 p.m., Eastern Time.
NOTE: This correspondence is for informational purposes only and should not be relied upon to project the tax character of actual Fund distributions for the 2024 calendar year.
NO ACTION IS REQUIRED ON YOUR PART.
Eaton Vance Enhanced Equity Income Fund II
February 29, 2024
Dear Eaton Vance Fund Shareholder:
This notice provides shareholders of the Eaton Vance Enhanced Equity Income Fund II (NYSE: EOS) with important information concerning the distribution declared in March 2024. You are receiving this notice as a requirement of the Fund’s managed distribution plan (Plan). The Board of Trustees approved the implementation of the Plan to make monthly cash distributions to common shareholders, stated in terms of a fixed amount per common share. This information is sent to you for informational purposes only and is an estimate of the sources of the March distribution. It is not determinative of the tax character of the Fund’s distributions for the 2024 calendar year.
The amounts and sources of distributions reported in this notice are estimates, are not being provided for tax reporting purposes and the distribution may later be determined to be from other sources including realized short-term gains, long-term gains, to the extent permitted by law, and return of capital. The actual amounts and sources for tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.
Distribution Period: March 2024
Distribution Amount per Common Share: $0.1152
The following table sets forth an estimate of the sources of the Fund’s March distribution and its cumulative distributions paid this fiscal year to date. Amounts are expressed on a per common share basis and as a percentage of the distribution amount.
| Eaton Vance Enhanced Equity Income Fund II | ||||||||||||||||
| Source |
Current Distribution |
% of Current Distribution |
Cumulative Distributions for the Fiscal Year-to-Date1 |
% of the Cumulative Distributions for the Fiscal Year-to-Date1 |
||||||||||||
| Net Investment Income |
$ | 0.0000 | 0.0 | % | $ | 0.0000 | 0.0 | % | ||||||||
| Net Realized Short-Term Capital Gains |
$ | 0.0000 | 0.0 | % | $ | 0.0000 | 0.0 | % | ||||||||
| Net Realized Long-Term Capital Gains |
$ | 0.0000 | 0.0 | % | $ | 0.0000 | 0.0 | % | ||||||||
| Return of Capital or Other Capital Source(s) |
$ | 0.1152 | 100.0 | % | $ | 0.3456 | 100.0 | % | ||||||||
| Total per common share |
$ | 0.1152 | 100.0 | % | $ | 0.3456 | 100.0 | % | ||||||||
| 1 | The Fund’s fiscal year is January 1, 2024 to December 31, 2024 |
IMPORTANT DISCLOSURE: You should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the terms of the Fund’s Plan. The Fund estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with ‘yield’ or ‘income.’ The amounts and sources of distributions reported in this Notice are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for accounting and/or tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.
Set forth in the table below is information relating to the Fund’s performance based on its net asset value (NAV) for certain periods.
| Average annual total return at NAV for the 5-year period ended on February 29, 20241 |
13.43 | % | ||
| Annualized current distribution rate expressed as a percentage of NAV as of February 29, 20242 |
6.48 | % | ||
| Cumulative total return at NAV for the fiscal year through February 29, 20243 |
9.48 | % | ||
| Cumulative fiscal year to date distribution rate as a percentage of NAV as of February 29, 20244 |
1.08 | % |
| 1 | Average annual total return at NAV represents the change in NAV of the Fund, with all distributions reinvested, for the 5-year period ended on February 29, 2024. |
| 2 | The annualized current distribution rate is the cumulative distribution rate annualized as a percentage of the Fund’s NAV as of February 29, 2024. |
| 3 | Cumulative total return at NAV is the percentage change in the Fund’s NAV for the period from the beginning of its fiscal year to February 29, 2024 including distributions paid and assuming reinvestment of those distributions. |
| 4 | Cumulative fiscal year distribution rate for the period from the beginning of its fiscal year to February 29, 2024 measured on the dollar value of distributions in the year-to-date period as a percentage of the Fund’s NAV as of February 29, 2024. |
If you have any questions regarding this information, please contact your investment advisor or an Eaton Vance Investor Services associate at 1-866-328-6681. Our associates are available to assist you Monday-Friday 8:30 a.m. to 5:30 p.m., Eastern Time.
NOTE: This correspondence is for informational purposes only and should not be relied upon to project the tax character of actual Fund distributions for the 2024 calendar year.
NO ACTION IS REQUIRED ON YOUR PART.
Eaton Vance Enhanced Equity Income Fund II
March 28, 2024
Dear Eaton Vance Fund Shareholder:
This notice provides shareholders of the Eaton Vance Enhanced Equity Income Fund II (NYSE: EOS) with important information concerning the distribution declared in April 2024. You are receiving this notice as a requirement of the Fund’s managed distribution plan (Plan). The Board of Trustees approved the implementation of the Plan to make monthly cash distributions to common shareholders, stated in terms of a fixed amount per common share. This information is sent to you for informational purposes only and is an estimate of the sources of the April distribution. It is not determinative of the tax character of the Fund’s distributions for the 2024 calendar year.
The amounts and sources of distributions reported in this notice are estimates, are not being provided for tax reporting purposes and the distribution may later be determined to be from other sources including realized short-term gains, long-term gains, to the extent permitted by law, and return of capital. The actual amounts and sources for tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.
Distribution Period: April 2024
Distribution Amount per Common Share: $0.1523
The following table sets forth an estimate of the sources of the Fund’s April distribution and its cumulative distributions paid this fiscal year to date. Amounts are expressed on a per common share basis and as a percentage of the distribution amount.
| Eaton Vance Enhanced Equity Income Fund II |
||||||||||||||||
| Source |
Current Distribution |
% of Current Distribution |
Cumulative Distributions for the Fiscal Year-to-Date1 |
% of the Cumulative Distributions for the Fiscal Year-to-Date1 |
||||||||||||
| Net Investment Income |
$ | 0.0000 | 0.0 | % | $ | 0.0000 | 0.0 | % | ||||||||
| Net Realized Short-Term Capital Gains |
$ | 0.0000 | 0.0 | % | $ | 0.0000 | 0.0 | % | ||||||||
| Net Realized Long-Term Capital Gains |
$ | 0.1269 | 83.3 | % | $ | 0.1269 | 25.5 | % | ||||||||
| Return of Capital or Other Capital Source(s) |
$ | 0.0254 | 16.7 | % | $ | 0.3710 | 74.5 | % | ||||||||
| Total per common share |
$ | 0.1523 | 100.0 | % | $ | 0.4979 | 100.0 | % | ||||||||
| 1 | The Fund’s fiscal year is January 1, 2024 to December 31, 2024 |
IMPORTANT DISCLOSURE: You should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the terms of the Fund’s Plan. The Fund estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with ‘yield’ or ‘income.’ The amounts and sources of distributions reported in this Notice are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for accounting and/or tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.
Set forth in the table below is information relating to the Fund’s performance based on its net asset value (NAV) for certain periods.
| Average annual total return at NAV for the 5-year period ended on March 31, 20241 |
13.35 | % | ||
| Annualized current distribution rate expressed as a percentage of NAV as of March 31, 20242 |
6.43 | % | ||
| Cumulative total return at NAV for the fiscal year through March 31, 20243 |
10.98 | % | ||
| Cumulative fiscal year to date distribution rate as a percentage of NAV as of March 31, 20244 |
1.61 | % |
| 1 | Average annual total return at NAV represents the change in NAV of the Fund, with all distributions reinvested, for the 5-year period ended on March 31, 2024. |
| 2 | The annualized current distribution rate is the cumulative distribution rate annualized as a percentage of the Fund’s NAV as of March 31, 2024. |
| 3 | Cumulative total return at NAV is the percentage change in the Fund’s NAV for the period from the beginning of its fiscal year to March 31, 2024 including distributions paid and assuming reinvestment of those distributions. |
| 4 | Cumulative fiscal year distribution rate for the period from the beginning of its fiscal year to March 31, 2024 measured on the dollar value of distributions in the year-to-date period as a percentage of the Fund’s NAV as of March 31, 2024. |
If you have any questions regarding this information, please contact your investment advisor or an Eaton Vance Investor Services associate at 1-866-328-6681. Our associates are available to assist you Monday-Friday 8:30 a.m. to 5:30 p.m., Eastern Time.
NOTE: This correspondence is for informational purposes only and should not be relied upon to project the tax character of actual Fund distributions for the 2024 calendar year.
NO ACTION IS REQUIRED ON YOUR PART.
Eaton Vance Enhanced Equity Income Fund II
April 30, 2024
Dear Eaton Vance Fund Shareholder:
This notice provides shareholders of the Eaton Vance Enhanced Equity Income Fund II (NYSE: EOS) with important information concerning the distribution declared in May 2024. You are receiving this notice as a requirement of the Fund’s managed distribution plan (Plan). The Board of Trustees approved the implementation of the Plan to make monthly cash distributions to common shareholders, stated in terms of a fixed amount per common share. This information is sent to you for informational purposes only and is an estimate of the sources of the May distribution. It is not determinative of the tax character of the Fund’s distributions for the 2024 calendar year.
The amounts and sources of distributions reported in this notice are estimates, are not being provided for tax reporting purposes and the distribution may later be determined to be from other sources including realized short-term gains, long-term gains, to the extent permitted by law, and return of capital. The actual amounts and sources for tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.
Distribution Period: May 2024
Distribution Amount per Common Share: $0.1523
The following table sets forth an estimate of the sources of the Fund’s May distribution and its cumulative distributions paid this fiscal year to date. Amounts are expressed on a per common share basis and as a percentage of the distribution amount.
| Eaton Vance Enhanced Equity Income Fund II |
||||||||||||||||
| Source |
Current Distribution |
% of Current Distribution |
Cumulative Distributions for the Fiscal Year-to-Date1 |
% of the Cumulative Distributions for the Fiscal Year-to-Date1 |
||||||||||||
| Net Investment Income |
$ | 0.0000 | 0.0 | % | $ | 0.0000 | 0.0 | % | ||||||||
| Net Realized Short-Term Capital Gains |
$ | 0.0000 | 0.0 | % | $ | 0.0000 | 0.0 | % | ||||||||
| Net Realized Long-Term Capital Gains |
$ | 0.0553 | 36.3 | % | $ | 0.1821 | 28.0 | % | ||||||||
| Return of Capital or Other Capital Source(s) |
$ | 0.0970 | 63.7 | % | $ | 0.4681 | 72.0 | % | ||||||||
| Total per common share |
$ | 0.1523 | 100.0 | % | $ | 0.6502 | 100.0 | % | ||||||||
| 1 | The Fund’s fiscal year is January 1, 2024 to December 31, 2024 |
IMPORTANT DISCLOSURE: You should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the terms of the Fund’s Plan. The Fund estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with ‘yield’ or ‘income.’ The amounts and sources of distributions reported in this Notice are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for accounting and/or tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.
Set forth in the table below is information relating to the Fund’s performance based on its net asset value (NAV) for certain periods.
| Average annual total return at NAV for the 5-year period ended on April 30, 20241 |
11.58 | % | ||
| Annualized current distribution rate expressed as a percentage of NAV as of April 30, 20242 |
8.92 | % | ||
| Cumulative total return at NAV for the fiscal year through April 30, 20243 |
6.62 | % | ||
| Cumulative fiscal year to date distribution rate as a percentage of NAV as of April 30, 20244 |
2.43 | % |
| 1 | Average annual total return at NAV represents the change in NAV of the Fund, with all distributions reinvested, for the 5-year period ended on April 30, 2024. |
| 2 | The annualized current distribution rate is the cumulative distribution rate annualized as a percentage of the Fund’s NAV as of April 30, 2024. |
| 3 | Cumulative total return at NAV is the percentage change in the Fund’s NAV for the period from the beginning of its fiscal year to April 30, 2024 including distributions paid and assuming reinvestment of those distributions. |
| 4 | Cumulative fiscal year distribution rate for the period from the beginning of its fiscal year to April 30, 2024 measured on the dollar value of distributions in the year-to-date period as a percentage of the Fund’s NAV as of April 30, 2024. |
If you have any questions regarding this information, please contact your investment advisor or an Eaton Vance Investor Services associate at 1-866-328-6681. Our associates are available to assist you Monday-Friday 8:30 a.m. to 5:30 p.m., Eastern Time.
NOTE: This correspondence is for informational purposes only and should not be relied upon to project the tax character of actual Fund distributions for the 2024 calendar year.
NO ACTION IS REQUIRED ON YOUR PART.
Eaton Vance Enhanced Equity Income Fund II
May 31, 2024
Dear Eaton Vance Fund Shareholder:
This notice provides shareholders of the Eaton Vance Enhanced Equity Income Fund II (NYSE: EOS) with important information concerning the distribution declared in June 2024. You are receiving this notice as a requirement of the Fund’s managed distribution plan (Plan). The Board of Trustees approved the implementation of the Plan to make monthly cash distributions to common shareholders, stated in terms of a fixed amount per common share. This information is sent to you for informational purposes only and is an estimate of the sources of the June distribution. It is not determinative of the tax character of the Fund’s distributions for the 2024 calendar year.
The amounts and sources of distributions reported in this notice are estimates, are not being provided for tax reporting purposes and the distribution may later be determined to be from other sources including realized short-term gains, long-term gains, to the extent permitted by law, and return of capital. The actual amounts and sources for tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.
Distribution Period: June 2024
Distribution Amount per Common Share: $0.1523
The following table sets forth an estimate of the sources of the Fund’s June distribution and its cumulative distributions paid this fiscal year to date. Amounts are expressed on a per common share basis and as a percentage of the distribution amount.
| Eaton Vance Enhanced Equity Income Fund II |
||||||||||||||||
| Source |
Current Distribution |
% of Current Distribution |
Cumulative Distributions for the Fiscal Year-to-Date1 |
% of
the Cumulative Distributions for the Fiscal Year-to-Date1 |
||||||||||||
| Net Investment Income |
$ | 0.0000 | 0.0 | % | $ | 0.0000 | 0.0 | % | ||||||||
| Net Realized Short-Term Capital Gains |
$ | 0.0000 | 0.0 | % | $ | 0.0000 | 0.0 | % | ||||||||
| Net Realized Long-Term Capital Gains |
$ | 0.0837 | 54.9 | % | $ | 0.2656 | 33.1 | % | ||||||||
| Return of Capital or Other Capital Source(s) |
$ | 0.0686 | 45.1 | % | $ | 0.5369 | 66.9 | % | ||||||||
| Total per common share |
$ | 0.1523 | 100.0 | % | $ | 0.8025 | 100.0 | % | ||||||||
| 1 | The Fund’s fiscal year is January 1, 2024 to December 31, 2024 |
IMPORTANT DISCLOSURE: You should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the terms of the Fund’s Plan. The Fund estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with ‘yield’ or ‘income.’ The amounts and sources of distributions reported in this Notice are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for accounting and/or tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.
Set forth in the table below is information relating to the Fund’s performance based on its net asset value (NAV) for certain periods.
| Average annual total return at NAV for the 5-year period ended on May 31, 20241 |
14.54 | % | ||
| Annualized current distribution rate expressed as a percentage of NAV as of May 31, 20242 |
8.50 | % | ||
| Cumulative total return at NAV for the fiscal year through May 31, 20243 |
12.58 | % | ||
| Cumulative fiscal year to date distribution rate as a percentage of NAV as of May 31, 20244 |
3.03 | % |
| 1 | Average annual total return at NAV represents the change in NAV of the Fund, with all distributions reinvested, for the 5-year period ended on May 31, 2024. |
| 2 | The annualized current distribution rate is the cumulative distribution rate annualized as a percentage of the Fund’s NAV as of May 31, 2024. |
| 3 | Cumulative total return at NAV is the percentage change in the Fund’s NAV for the period from the beginning of its fiscal year to May 31, 2024 including distributions paid and assuming reinvestment of those distributions. |
| 4 | Cumulative fiscal year distribution rate for the period from the beginning of its fiscal year to May 31, 2024 measured on the dollar value of distributions in the year-to-date period as a percentage of the Fund’s NAV as of May 31, 2024. |
If you have any questions regarding this information, please contact your investment advisor or an Eaton Vance Investor Services associate at 1-866-328-6681. Our associates are available to assist you Monday-Friday 8:30 a.m. to 5:30 p.m., Eastern Time.
NOTE: This correspondence is for informational purposes only and should not be relied upon to project the tax character of actual Fund distributions for the 2024 calendar year.
NO ACTION IS REQUIRED ON YOUR PART.
Eaton Vance Enhanced Equity Income Fund II
June 30, 2024
N-2 |
6 Months Ended |
|---|---|
|
Jun. 30, 2024
shares
| |
| Cover [Abstract] | |
| Entity Central Index Key | 0001308335 |
| Amendment Flag | false |
| Document Type | N-CSRS |
| Entity Registrant Name | Eaton Vance Enhanced Equity Income Fund II |
| General Description of Registrant [Abstract] | |
| Investment Objectives and Practices [Text Block] | The Fund’s primary investment objective is to provide current income, with a secondary objective of capital appreciation. |
| Common Shares [Member] | |
| Capital Stock, Long-Term Debt, and Other Securities [Abstract] | |
| Outstanding Security, Title [Text Block] | Common Shares |
| Outstanding Security, Held [Shares] | 52,307,415 |
1 Year Eaton Vance Enhanced Equ... Chart |
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