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 May 31, 2007 and for the nine months ended May 31, 2007. The Fund's fiscal year ends on August 31, 2007.

For the three months ended May 31, 2007, the Fund had net investment income of $74,253,654 ($1.020 per common share). From this amount, the Fund paid dividends on preferred shares of $7,934,650 (equal to $0.109 for each common share), resulting in net investment income after the preferred dividends of $66,319,004 or $0.911 per common share. For the nine months ended May 31, 2007, the Fund had net investment income of $120,406,361 ($1.653 per common share). From this amount, the Fund paid dividends on preferred shares of $23,570,973 (equal to $0.324 for each common share), resulting in net investment income after the preferred dividends of $96,835,388 or $1.329 per common share. In comparison, for the three months ended May 31, 2006, the Fund had net investment income of $65,452,391 ($0.899 per common share). From this amount, the Fund paid dividends on preferred shares of $7,605,112 (equal to $0.104 for each common share), resulting in net investment income after the preferred dividends of $57,847,279 or $0.795 per common share. For the nine months ended May 31, 2006 the Fund had net investment income of $131,017,277 ($1.799 per common share). From this amount, the Fund paid dividends on preferred shares of $20,759,489 (equal to $0.285 for each common share), resulting in net investment income after the preferred dividends of $110,257,788 or $1.514 per common share.

Net realized and unrealized gains for the three months ended May 31, 2007 were $246,398,667 ($3.383 per common share) and net realized and unrealized gains for the nine months ended May 31, 2007 were $439,643,863 ($6.036 per common share). In comparison, net realized and unrealized losses for the three months ended May 31, 2006 were $14,426,534 ($0.198 per common share) and net realized and unrealized gains for nine months ended May 31, 2006 were $63,771,050 ($0.876 per common share).

On May 31, 2007, net assets applicable to common shares of the Fund were $2,406,819,243. The net asset value per common share on May 31, 2007 was $33.04 based on 72,835,900 common shares outstanding. In comparison, on May 31, 2006, net assets of the Fund were $1,899,909,915. The net asset value per common share on May 31, 2006 was $26.08 based on 72,835,900 common shares outstanding.

The Fund is managed by Eaton Vance Management. Eaton Vance and its affiliates had $153.6 billion in assets under management as of June 30, 2007. Eaton Vance Management will make available periodic summary information regarding portfolio investments. Those interested should call Eaton Vance Marketing at (800) 262-1122.

EATON VANCE TAX-ADVANTAGED DIVIDEND INCOME FUND
SUMMARY OF RESULTS OF OPERATIONS
(in thousands, except per share amounts)
 
Three Months Ended Nine Months Ended
May 31, May 31,
2007200620072006
Gross investment income $79,860 $70,308 $136,348 $145,275
Operating expenses 5,606 4,856 15,942 14,258
Net investment income $74,254 $65,452 $120,406 $131,017
Net realized and unrealized gains (losses) on investments
$246,399 ($14,427) $439,644 $63,771
Preferred dividends paid ($7,935) ($7,605) ($23,571) ($20,759)
Net increase (decrease) in net assets from operations
$312,718 $43,420 $536,479 $174,029
 
Earnings per Common Share Outstanding
Gross investment income $1.097 $0.966 $1.872 $1.995
Operating expenses 0.077 0.067 0.219 0.196
Net investment income $1.020 $0.899 $1.653 $1.799
Net realized and unrealized gains (losses) on investments
$3.383 ($0.198) $6.036 $0.876
Preferred dividends paid (0.109) (0.104) (0.324) (0.285)
Net increase (decrease) in net assets from operations
$4.294 $0.597 $7.365 $2.390
 
Net investment income $1.020 $0.899 $1.653 $1.799
Preferred dividends paid (0.109) (0.104) (0.324) (0.285)
Net investment income after preferred dividends $0.911 $0.795 $1.329 $1.514
 
 
Net Asset Value at May 31(Common Shares)
Net assets (000) $2,406,819 $1,899,910
Shares outstanding (000) 72,836 72,836
Net asset value per share outstanding $33.04 $26.08
 
Market Value Summary (Common Shares)
Market price on NYSE at May 31 $30.45 $23.66
High market price (nine months ended May 31) $30.45 $24.20

Low market price (nine months ended May 31)

$24.84 $20.56

Investor Contact: 800-262-1122