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Eaton Vance Tax-Managed Buy-Write (ETB-N) Quote - Press Release

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Eaton Vance Closed-End Funds Release Estimated Sources Of Distributions

PR Newswire - Wed Jul 31, 9:37AM CDT

The Eaton Vance closed-end funds listed below released today the estimated sources of their July distributions (each a "Fund"). This press release is issued as required by the Funds' managed distribution plan (Plan) and an exemptive order received from the U.S. Securities and Exchange Commission. The Board of Trustees has approved the implementation of the Plan to make monthly, as noted below, 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 July distribution. It is not determinative of the tax character of a Fund's distributions for the 2019 calendar year. Shareholders should note that each Fund's total regular distribution amount is subject to change as a result of market conditions or other factors.

IMPORTANT DISCLOSURE: You should not draw any conclusions about each Fund's investment performance from the amount of this distribution or from the terms of each Fund's Plan. Each 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 each Fund is paid back to you. A return of capital distribution does not necessarily reflect each 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 each Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. Each 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.

The following tables set forth estimates of the sources of each Fund's July distribution and its cumulative distributions paid for its fiscal year through July 31, 2019, and information relating to each Fund's performance based on its net asset value (NAV) for certain periods.

Eaton Vance Enhanced Equity Income Fund (NYSE:EOI)
Distribution Period:                         July- 2019
Distribution Amount per Common Share:        $0.0898
Distribution Frequency:                      Monthly
Fiscal Year End:                             September
Source                                       Current                         % of                            Cumulative     % of the
                                             Distribution                    Current                         Distributions  Cumulative
                                                                             Distribution                    for the Fiscal Distributions
                                                                                                             Year-to-Date   for the Fiscal
                                                                                                                            Year-to-Date
Net Investment Income                        $0.0075                         8.40%                           $0.0843        9.50%
Net Realized Short-Term Capital Gains        $0.0000                         0.00%                           $0.0000        0.00%
Net Realized Long-Term Capital Gains         $0.0477                         53.10%                          $0.0764        8.60%
Return of Capital or Other Capital Source(s) $0.0346                         38.50%                          $0.7271        81.90%
Total per common share                       $0.0898                         100.00%                         $0.8878        100.00%
Average annual total return at NAV for the 5-year period ended on June 30, 2019 1                            8.50%
Annualized current distribution rate expressed as a percentage of NAV as of June 30, 2019 2                  7.09%
Cumulative total return at NAV for the fiscal year through June 30, 2019 3                                   1.22%
Cumulative fiscal year to date distribution rate as a percentage of NAV as of June 30, 2019 4                5.25%
Eaton Vance Enhanced Equity Income Fund II (NYSE:EOS)
Distribution Period:                         July- 2019
Distribution Amount per Common Share:        $0.0988
Distribution Frequency:                      Monthly
Fiscal Year End:                             December
Source                                       Current                         % of                            Cumulative     % of the
                                             Distribution                    Current                         Distributions  Cumulative
                                                                             Distribution                    for the Fiscal Distributions
                                                                                                             Year-to-Date   for the Fiscal
                                                                                                                            Year-to-Date
Net Investment Income                        $0.0000                         0.00%                           $0.0000        0.00%
Net Realized Short-Term Capital Gains        $0.0000                         0.00%                           $0.0000        0.00%
Net Realized Long-Term Capital Gains         $0.0988                         100.00%                         $0.5941        85.90%
Return of Capital or Other Capital Source(s) $0.0000                         0.00%                           $0.0975        14.10%
Total per common share                       $0.0988                         100.00%                         $0.6916        100.00%
Average annual total return at NAV for the 5-year period ended on June 30, 2019 1                            10.69%
Annualized current distribution rate expressed as a percentage of NAV as of June 30, 2019 2                  7.12%
Cumulative total return at NAV for the fiscal year through June 30, 2019 3                                   16.54%
Cumulative fiscal year to date distribution rate as a percentage of NAV as of June 30, 2019 4                3.56%
Eaton Vance Risk-Managed Diversified Equity Income Fund (NYSE:ETJ)
Distribution Period:                         July- 2019
Distribution Amount per Common Share:        $0.0760
Distribution Frequency:                      Monthly
Fiscal Year End:                             December
Source                                       Current                         % of                            Cumulative     % of the
                                             Distribution                    Current                         Distributions  Cumulative
                                                                             Distribution                    for the Fiscal Distributions
                                                                                                             Year-to-Date   for the Fiscal
                                                                                                                            Year-to-Date
Net Investment Income                        $0.0044                         5.80%                           $0.0368        6.90%
Net Realized Short-Term Capital Gains        $0.0000                         0.00%                           $0.0000        0.00%
Net Realized Long-Term Capital Gains         $0.0000                         0.00%                           $0.0000        0.00%
Return of Capital or Other Capital Source(s) $0.0716                         94.20%                          $0.4952        93.10%
Total per common share                       $0.0760                         100.00%                         $0.5320        100.00%
Average annual total return at NAV for the 5-year period ended on June 30, 2019 1                            4.50%
Annualized current distribution rate expressed as a percentage of NAV as of June 30, 2019 2                  9.69%
Cumulative total return at NAV for the fiscal year through June 30, 2019 3                                   10.48%
Cumulative fiscal year to date distribution rate as a percentage of NAV as of June 30, 2019 4                4.85%
Eaton Vance Tax-Advantaged Dividend Income Fund  (NYSE:EVT)
Distribution Period:                         July- 2019
Distribution Amount per Common Share:        $0.1450
Distribution Frequency:                      Monthly
Fiscal Year End:                             October
Source                                       Current                         % of                            Cumulative     % of the
                                             Distribution                    Current                         Distributions  Cumulative
                                                                             Distribution                    for the Fiscal Distributions
                                                                                                             Year-to-Date   for the Fiscal
                                                                                                                            Year-to-Date
Net Investment Income                        $0.0480                         33.30%                          $0.4250        32.60%
Net Realized Short-Term Capital Gains        $0.0000                         0.00%                           $0.0000        0.00%
Net Realized Long-Term Capital Gains         $0.0970                         66.70%                          $0.8800        67.40%
Return of Capital or Other Capital Source(s) $0.0000                         0.00%                           $0.0000        0.00%
Total per common share                       $0.1450                         100.00%                         $1.3050        100.00%
Average annual total return at NAV for the 5-year period ended on June 30, 2019 1                            9.06%
Annualized current distribution rate expressed as a percentage of NAV as of June 30, 2019 2                  7.32%
Cumulative total return at NAV for the fiscal year through June 30, 2019 3                                   10.65%
Cumulative fiscal year to date distribution rate as a percentage of NAV as of June 30, 2019 4                4.88%
Eaton Vance Tax-Advantaged Global Dividend Income (NYSE:ETG)
Distribution Period:                         July- 2019
Distribution Amount per Common Share:        $0.1025
Distribution Frequency:                      Monthly
Fiscal Year End:                             October
Source                                       Current                         % of                            Cumulative     % of the
                                             Distribution                    Current                         Distributions  Cumulative
                                                                             Distribution                    for the Fiscal Distributions
                                                                                                             Year-to-Date   for the Fiscal
                                                                                                                            Year-to-Date
Net Investment Income                        $0.1025                         100.00%                         $0.8585        93.10%
Net Realized Short-Term Capital Gains        $0.0000                         0.00%                           $0.0000        0.00%
Net Realized Long-Term Capital Gains         $0.0000                         0.00%                           $0.0640        6.90%
Return of Capital or Other Capital Source(s) $0.0000                         0.00%                           $0.0000        0.00%
Total per common share                       $0.1025                         100.00%                         $0.9225        100.00%
Average annual total return at NAV for the 5-year period ended on June 30, 2019 1                            6.27%
Annualized current distribution rate expressed as a percentage of NAV as of June 30, 2019 2                  7.09%
Cumulative total return at NAV for the fiscal year through June 30, 2019 3                                   9.43%
Cumulative fiscal year to date distribution rate as a percentage of NAV as of June 30, 2019 4                4.72%
Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund  (NYSE:ETO)
Distribution Period:                         July- 2019
Distribution Amount per Common Share:        $0.1800
Distribution Frequency:                      Monthly
Fiscal Year End:                             October
Source                                       Current                         % of                            Cumulative     % of the
                                             Distribution                    Current                         Distributions  Cumulative
                                                                             Distribution                    for the Fiscal Distributions
                                                                                                             Year-to-Date   for the Fiscal
                                                                                                                            Year-to-Date
Net Investment Income                        $0.0360                         20.00%                          $0.3010        18.60%
Net Realized Short-Term Capital Gains        $0.0000                         0.00%                           $0.0000        0.00%
Net Realized Long-Term Capital Gains         $0.1440                         80.00%                          $1.3190        81.40%
Return of Capital or Other Capital Source(s) $0.0000                         0.00%                           $0.0000        0.00%
Total per common share                       $0.1800                         100.00%                         $1.6200        100.00%
Average annual total return at NAV for the 5-year period ended on June 30, 2019 1                            7.42%
Annualized current distribution rate expressed as a percentage of NAV as of June 30, 2019 2                  9.14%
Cumulative total return at NAV for the fiscal year through June 30, 2019 3                                   13.64%
Cumulative fiscal year to date distribution rate as a percentage of NAV as of June 30, 2019 4                6.10%
Eaton Vance Tax-Managed Buy-Write Income Fund (NYSE:ETB)
Distribution Period:                         July- 2019
Distribution Amount per Common Share:        $0.1080
Distribution Frequency:                      Monthly
Fiscal Year End:                             December
Source                                       Current                         % of                            Cumulative     % of the
                                             Distribution                    Current                         Distributions  Cumulative
                                                                             Distribution                    for the Fiscal Distributions
                                                                                                             Year-to-Date   for the Fiscal
                                                                                                                            Year-to-Date
Net Investment Income                        $0.0111                         10.30%                          $0.0862        11.40%
Net Realized Short-Term Capital Gains        $0.0000                         0.00%                           $0.0000        0.00%
Net Realized Long-Term Capital Gains         $0.0000                         0.00%                           $0.0000        0.00%
Return of Capital or Other Capital Source(s) $0.0969                         89.70%                          $0.6698        88.60%
Total per common share                       $0.1080                         100.00%                         $0.7560        100.00%
Average annual total return at NAV for the 5-year period ended on June 30, 2019 1                            6.30%
Annualized current distribution rate expressed as a percentage of NAV as of June 30, 2019 2                  8.76%
Cumulative total return at NAV for the fiscal year through June 30, 2019 3                                   10.06%
Cumulative fiscal year to date distribution rate as a percentage of NAV as of June 30, 2019 4                4.38%
Eaton Vance Tax-Managed Buy-Write Opportunities Fund (NYSE:ETV)
Distribution Period:                         July- 2019
Distribution Amount per Common Share:        $0.1108
Distribution Frequency:                      Monthly
Fiscal Year End:                             December
Source                                       Current                         % of                            Cumulative     % of the
                                             Distribution                    Current                         Distributions  Cumulative
                                                                             Distribution                    for the Fiscal Distributions
                                                                                                             Year-to-Date   for the Fiscal
                                                                                                                            Year-to-Date
Net Investment Income                        $0.0062                         5.60%                           $0.0512        6.60%
Net Realized Short-Term Capital Gains        $0.0000                         0.00%                           $0.0000        0.00%
Net Realized Long-Term Capital Gains         $0.0000                         0.00%                           $0.0000        0.00%
Return of Capital or Other Capital Source(s) $0.1046                         94.40%                          $0.7244        93.40%
Total per common share                       $0.1108                         100.00%                         $0.7756        100.00%
Average annual total return at NAV for the 5-year period ended on June 30, 2019 1                            8.26%
Annualized current distribution rate expressed as a percentage of NAV as of June 30, 2019 2                  9.41%
Cumulative total return at NAV for the fiscal year through June 30, 2019 3                                   10.82%
Cumulative fiscal year to date distribution rate as a percentage of NAV as of June 30, 2019 4                4.70%
Eaton Vance Tax-Managed Diversified Equity Income Fund (NYSE:ETY)
Distribution Period:                         July- 2019
Distribution Amount per Common Share:        $0.0843
Distribution Frequency:                      Monthly
Fiscal Year End:                             October
Source                                       Current                         % of                            Cumulative                    % of the
                                             Distribution                    Current                         Distributions                 Cumulative
                                                                             Distribution                    for the Fiscal                Distributions
                                                                                                             Year-to-Date                  for the Fiscal
                                                                                                                                           Year-to-Date
Net Investment Income                        $0.0077                         9.10%                           $0.0690                       9.10%
Net Realized Short-Term Capital Gains        $0.0000                         0.00%                           $0.0000                       0.00%
Net Realized Long-Term Capital Gains         $0.0000                         0.00%                           $0.0000                       0.00%
Return of Capital or Other Capital Source(s) $0.0766                         90.90%                          $0.6897                       90.9%
Total per common share                       $0.0843                         100.00%                         $0.7587                       100.0%
Average annual total return at NAV for the 5-year period ended on June 30, 2019 1                            8.34%
Annualized current distribution rate expressed as a percentage of NAV as of June 30, 2019 2                  8.46%
Cumulative total return at NAV for the fiscal year through June 30, 2019 3                                   6.97%
Cumulative fiscal year to date distribution rate as a percentage of NAV as of June 30, 2019 4                5.64%
Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (NYSE:ETW)
Distribution Period:                         July- 2019
Distribution Amount per Common Share:        $0.0727
Distribution Frequency:                      Monthly
Fiscal Year End:                             December
Source                                       Current                         % of                            Cumulative                    % of the
                                             Distribution                    Current                         Distributions                 Cumulative
                                                                             Distribution                    for the Fiscal                Distributions
                                                                                                             Year-to-Date                  for the Fiscal
                                                                                                                                           Year-to-Date
Net Investment Income                        $0.0109                         15.00%                          $0.0748                       14.70%
Net Realized Short-Term Capital Gains        $0.0000                         0.00%                           $0.0000                       0.00%
Net Realized Long-Term Capital Gains         $0.0000                         0.00%                           $0.0000                       0.00%
Return of Capital or Other Capital Source(s) $0.0618                         85.00%                          $0.4341                       85.30%
Total per common share                       $0.0727                         100.00%                         $0.5089                       100.00%
Average annual total return at NAV for the 5-year period ended on June 30, 2019 1                            4.90%
Annualized current distribution rate expressed as a percentage of NAV as of June 30, 2019 2                  8.50%
Cumulative total return at NAV for the fiscal year through June 30, 2019 3                                   10.70%
Cumulative fiscal year to date distribution rate as a percentage of NAV as of June 30, 2019 4                4.25%
Eaton Vance Tax-Managed Global Diversified Equity Income Fund (NYSE:EXG)
Distribution Period:                         July- 2019
Distribution Amount per Common Share:        $0.0616
Distribution Frequency:                      Monthly
Fiscal Year End:                             October
Source                                       Current                         % of                            Cumulative                    % of the
                                             Distribution                    Current                         Distributions                 Cumulative
                                                                             Distribution                    for the Fiscal                Distributions
                                                                                                             Year-to-Date                  for the Fiscal
                                                                                                                                           Year-to-Date
Net Investment Income                        $0.0103                         16.70%                          $0.0665                       11.40%
Net Realized Short-Term Capital Gains        $0.0000                         0.00%                           $0.0000                       0.00%
Net Realized Long-Term Capital Gains         $0.0000                         0.00%                           $0.0000                       0.00%
Return of Capital or Other Capital Source(s) $0.0513                         83.30%                          $0.5167                       88.60%
Total per common share                       $0.0616                         100.00%                         $0.5832                       100.00%
Average annual total return at NAV for the 5-year period ended on June 30, 2019 1                            5.57%
Annualized current distribution rate expressed as a percentage of NAV as of June 30, 2019 2                  8.50%
Cumulative total return at NAV for the fiscal year through June 30, 2019 3                                   9.52%
Cumulative fiscal year to date distribution rate as a percentage of NAV as of June 30, 2019 4                6.00%
Eaton Vance Tax-Managed Buy-Write Strategy Fund (NYSE:EXD)
Distribution Period:                         July- 2019
Distribution Amount per Common Share:        $0.0708
Distribution Frequency:                      Monthly
Fiscal Year End:                             December
Source                                       Current                         % of                            Cumulative                    % of the
                                             Distribution                    Current                         Distributions                 Cumulative
                                                                             Distribution                    for the Fiscal                Distributions
                                                                                                             Year-to-Date                  for the Fiscal
                                                                                                                                           Year-to-Date
Net Investment Income                        $0.0051                         7.20%                           $0.0308                       8.70%
Net Realized Short-Term Capital Gains        $0.0000                         0.00%                           $0.0000                       0.00%
Net Realized Long-Term Capital Gains         $0.0000                         0.00%                           $0.0000                       0.00%
Return of Capital or Other Capital Source(s) $0.0657                         92.80%                          $0.3232                       91.30%
Total per common share                       $0.0708                         100.00%                         $0.3540                       100.00%
Average annual total return at NAV for the 5-year period ended on June 30, 2019 1                            0.92%
Annualized current distribution rate expressed as a percentage of NAV as of June 30,2019 2                   2.80%
Cumulative total return at NAV for the fiscal year through June 30, 2019 3                                   4.39%
Cumulative fiscal year to date distribution rate as a percentage of NAV as of June 30, 2019 4                2.80%
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 June 30, 2019
2 The annualized current distribution rate is the cumulative distribution rate annualized as a percentage of the Fund's NAV as of June 30, 2019
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 June 30, 2019
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 June 30, 2019 measured on the dollar value of the
distributions in year-to-date period as a percentage of the Fund's NAV as of June 30, 2019

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SOURCE Eaton Vance Management

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