Eaton Vance Tax-Advantaged Dividend Income Fund Report of Earnings

  
    
  
  
    
      Eaton Vance Tax-Advantaged Dividend Income Fund (NYSE: EVT), a 
      diversified closed-end investment company, today announced the earnings 
      of the Fund for the three months ended August 31, 2008 and for the year 
      ended August 31, 2008. The Fund’s fiscal year 
      ended on August 31, 2008.
    
    
      For the three months ended August 31, 2008, the Fund had net investment 
      income of $25,988,224 ($0.357 per common share). For the year ended 
      August 31, 2008, the Fund had net investment income of $161,017,582 
      ($2.211 per common share). From this amount, the Fund paid dividends on 
      preferred shares of $20,059,122 (equal to $0.275 for each common share), 
      resulting in net investment income after the preferred dividends of 
      $140,958,460 or $1.936 per common share. In comparison, for the three 
      months ended August 31, 2007, the Fund had net investment income of 
      $36,754,685 ($0.505 per common share). From this amount, the Fund paid 
      dividends on preferred shares of $8,276,046 (equal to $0.114 for each 
      common share), resulting in net investment income after the preferred 
      dividends of $28,478,639 or $0.391 per common share. For the year ended 
      August 31, 2007, the Fund had net investment income of $157,161,046 
      ($2.158 per common share). From this amount, the Fund paid dividends on 
      preferred shares of $31,847,019 (equal to $0.437 for each common share), 
      resulting in net investment income after the preferred dividends of 
      $125,314,027 or $1.721 per common share.
    
    
      Net realized and unrealized losses for the three months ended August 31, 
      2008 were $338,918,232 ($4.653 per common share) and net realized and 
      unrealized losses for the year ended August 31, 2008 were $441,649,765 
      ($6.058 per common share). In comparison, net realized and unrealized 
      losses for the three months ended August 31, 2007 were $193,982,210 
      ($2.663 per common share) and net realized and unrealized gains for the 
      year ended August 31, 2007 were $245,661,653 ($3.369 per common share).
    
    
      On August 31, 2008, net assets of the Fund were $1,771,251,765. The net 
      asset value per share on August 31, 2008 was $24.32 based on 72,835,900 
      shares outstanding. In comparison, on August 31, 2007, net assets 
      applicable to common shares of the Fund were $2,208,015,098. The net 
      asset value per common share on August 31, 2007 was $30.31 based on 
      72,835,900 common shares outstanding.
    
    
      The Fund is managed by Eaton Vance Management. Eaton Vance and its 
      affiliates had $144.0 billion in assets under management as of September 
      30, 2008. Eaton Vance Management will make available periodic summary 
      information regarding portfolio investments. Those interested should 
      call Eaton Vance Marketing at [phone].
    
    
      
        
          EATON VANCE TAX-ADVANTAGED DIVIDEND INCOME FUND
        
      
      
        
          SUMMARY OF RESULTS OF OPERATIONS
        
      
      
        
          (in thousands, except per share amounts)
        
      
      
        
        
        
           
        
        
        
        
           
        
        
        
        
           
        
        
        
        
           
        
        
        
      
      
        
        
        
        
        
          Three Months Ended
        
        
        
        
          Year Ended
        
      
      
        
        
        
        
        
          August 31,
        
        
        
        
          August 31,
        
      
      
        
        
        
        
        
          
            2008
          
        
        
        
        
          
            2007
          
        
        
        
        
          
            2008
          
        
        
        
        
          
            2007
          
        
      
      
        
          Gross investment income
        
        
        
        
          $34,733
        
        
        
        
        
        
          $42,193
        
        
        
        
        
        
          $189,602
        
        
        
        
        
        
          $178,541
        
        
        
      
      
        
          Operating expenses
        
        
        
        
          (4,150
        
        
          )
        
        
        
        
          (5,438
        
        
          )
        
        
        
        
          (20,074
        
        
          )
        
        
        
        
          (21,380
        
        
          )
        
      
      
        
          Interest expense
        
        
        
        
          (4,595
        
        
          )
        
        
        
        
          -
        
        
           
        
        
        
        
          (8,510
        
        
          )
        
        
        
        
          -
        
        
           
        
      
      
        
          Net investment income
        
        
        
        
          $25,988
        
        
        
        
        
        
          $36,755
        
        
        
        
        
        
          $161,018
        
        
        
        
        
        
          $157,161
        
        
        
      
      
        
          
            Net realized and unrealized gains (losses) on investments
          
        
        
        
        
          ($338,918
        
        
          )
        
        
        
        
          ($193,982
        
        
          )
        
        
        
        
          ($441,650
        
        
          )
        
        
        
        
          $245,662
        
        
        
      
      
        
          Preferred dividends paid (1)
        
        
        
        
          $0
        
        
           
        
        
        
        
          ($8,276
        
        
          )
        
        
        
        
          ($20,059
        
        
          )
        
        
        
        
          ($31,847
        
        
          )
        
      
      
        
          
            Net increase (decrease) in net assets from operations
          
        
        
        
        
          ($312,930
        
        
          )
        
        
        
        
          ($165,503
        
        
          )
        
        
        
        
          ($300,691
        
        
          )
        
        
        
        
          $370,976
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          
            Earnings per Common Share 
            Outstanding
          
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
      
      
        
          Gross investment income
        
        
        
        
          $0.477
        
        
        
        
        
        
          $0.579
        
        
        
        
        
        
          $2.603
        
        
        
        
        
        
          $2.451
        
        
        
      
      
        
          Operating expenses
        
        
        
        
          (0.057
        
        
          )
        
        
        
        
          (0.074
        
        
          )
        
        
        
        
          (0.276
        
        
          )
        
        
        
        
          (0.293
        
        
          )
        
      
      
        
          Interest expense
        
        
        
        
          (0.063
        
        
          )
        
        
        
        
          -
        
        
           
        
        
        
        
          (0.116
        
        
          )
        
        
        
        
          -
        
        
           
        
      
      
        
          Net investment income
        
        
        
        
          $0.357
        
        
        
        
        
        
          $0.505
        
        
        
        
        
        
          $2.211
        
        
        
        
        
        
          $2.158
        
        
        
      
      
        
          
            Net realized and unrealized gains (losses) on investments
          
        
        
        
        
          ($4.653
        
        
          )
        
        
        
        
          ($2.663
        
        
          )
        
        
        
        
          ($6.058
        
        
          )
        
        
        
        
          $3.369
        
        
        
      
      
        
          Preferred dividends paid (1)
        
        
        
        
          -
        
        
           
        
        
        
        
          (0.114
        
        
          )
        
        
        
        
          (0.275
        
        
          )
        
        
        
        
          (0.437
        
        
          )
        
      
      
        
          
            Net increase (decrease) in net assets from operations
          
        
        
        
        
          ($4.296
        
        
          )
        
        
        
        
          ($2.272
        
        
          )
        
        
        
        
          ($4.122
        
        
          )
        
        
        
        
          $5.090
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Net investment income
        
        
        
        
          $0.357
        
        
        
        
        
        
          $0.505
        
        
        
        
        
        
          $2.211
        
        
        
        
        
        
          $2.158
        
        
        
      
      
        
          Preferred dividends paid
        
        
        
        
          -
        
        
           
        
        
        
        
          (0.114
        
        
          )
        
        
        
        
          (0.275
        
        
          )
        
        
        
        
          (0.437
        
        
          )
        
      
      
        
          Net investment income after preferred dividends
        
        
        
        
          $0.357
        
        
           
        
        
        
        
          $0.391
        
        
           
        
        
        
        
          $1.936
        
        
           
        
        
        
        
          $1.721
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          
            Net Asset Value at August 31(Common 
            Shares)
          
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
      
      
        
          Net assets (000)
        
        
        
        
        
        
        
        
        
        
        
        
          $1,771,252
        
        
        
        
        
        
          $2,208,015
        
        
        
      
      
        
          Shares outstanding (000)
        
        
        
        
        
        
        
        
        
        
        
        
          72,836
        
        
        
        
        
        
          72,836
        
        
        
      
      
        
          Net asset value per share outstanding
        
        
        
        
        
        
        
        
        
        
        
        
          $24.32
        
        
        
        
        
        
          $30.31
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          
            Market Value Summary (Common Shares)
          
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
      
      
        
          Market price on NYSE at August 31
        
        
        
        
        
        
        
        
        
        
        
        
          $21.05
        
        
        
        
        
        
          $27.13
        
        
        
      
      
        
          High market price (period ended August 31)
        
        
        
        
        
        
        
        
        
        
        
        
          $29.40
        
        
        
        
        
        
          $30.76
        
        
        
      
      
        
          Low market price (period ended August 31)
        
        
        
        
        
        
        
        
        
        
        
        
          $20.60
        
        
        
        
        
        
          $24.32
        
        
        
      
    
    
      (1) As of April 23, 2008, all series of preferred shares had been 
      redeemed.