Eaton Vance Announces February 2026 Distribution Declarations Across Closed-End Fund Lineup
Eaton Vance has announced its latest monthly distribution declarations for a broad range of closed-end funds, providing income-focused investors with updated details on payout amounts, key dates, and distribution rates across both municipal and taxable investment strategies. The announced distributions reflect Eaton Vance’s continued commitment to delivering regular cash payments to shareholders while navigating evolving market conditions, interest rate dynamics, and asset class performance trends. The distributions declared on February 2, 2026, cover multiple funds with varying ex-dividend, record, and payable dates, reinforcing the firm’s diversified approach to income generation across municipal bonds, senior loans, floating-rate instruments, and equity income strategies.
Overview of Declaration, Ex-Date, Record Date, and Payable Date Structure
For the February 2026 distribution cycle, Eaton Vance has established two separate payment schedules depending on the specific fund group. Several municipal and taxable funds follow an ex-dividend and record date of February 13, 2026, with payments scheduled for February 24, 2026, while another group of funds features an ex-dividend and record date of February 17, 2026, with distributions payable on February 27, 2026. This staggered schedule reflects operational structuring across the firm’s closed-end fund platform and provides clarity for investors planning around income receipt timelines and portfolio cash flow management.
Municipal Bond Funds Declared for February 2026 Distributions
Eaton Vance’s municipal bond closed-end funds continue to play a central role in its income-oriented offerings, particularly for investors seeking tax-advantaged income. Within the first group of declarations dated February 2, 2026, the Eaton Vance California Municipal Income Trust and the Eaton Vance Municipal Income Trust both announced consistent monthly distributions with no changes from prior periods. The Eaton Vance California Municipal Income Trust declared a distribution of $0.0500 per share, supported by a closing market price of $10.27 as of January 30, 2026, resulting in a distribution rate of 5.84 percent at market price. Similarly, the Eaton Vance Municipal Income Trust announced a $0.0513 distribution per share, trading at $10.76 and delivering a distribution rate of 5.72 percent. These figures underscore the funds’ stability and reflect Eaton Vance’s disciplined income management approach within the municipal bond sector.
Taxable Income Funds with February 24 Payable Dates
Among taxable income strategies payable on February 24, 2026, Eaton Vance Senior Income Trust and Eaton Vance Limited Duration Income Fund declared distributions designed to support higher-yield objectives. The Eaton Vance Senior Income Trust announced a $0.0390 per share distribution, maintaining consistency with prior payments, while trading at a closing market price of $5.31 and offering a distribution rate of 8.81 percent. The Eaton Vance Limited Duration Income Fund declared a slightly adjusted distribution of $0.0728 per share, reflecting a modest decrease of $0.0004 from the prior distribution, with a market price of $9.87 and a distribution rate of 8.85 percent. These taxable income funds continue to appeal to investors seeking enhanced yield potential through diversified credit exposure and active duration management.
Second Group of Municipal Bond Funds with February 27 Payable Dates
The second declaration group includes a broader lineup of municipal bond funds payable on February 27, 2026. The Eaton Vance Municipal Bond Fund declared a monthly distribution of $0.0508 per share, supported by a market price of $9.93 and a distribution rate of 6.14 percent. The Eaton Vance Municipal Income 2028 Term Trust announced a $0.0782 distribution, trading at $18.87 and generating a distribution rate of 4.98 percent. Additionally, the Eaton Vance National Municipal Opportunities Trust declared a $0.0683 per share distribution, with a closing market price of $17.59 and a distribution rate of 4.66 percent. These funds illustrate Eaton Vance’s continued emphasis on diversified municipal exposure, term structures, and opportunistic national strategies aimed at balancing income stability with credit quality considerations.
Taxable Floating-Rate and Short-Duration Strategies
Eaton Vance’s taxable closed-end funds payable on February 27, 2026, include several floating-rate and short-duration strategies designed to perform in varying interest rate environments. The Eaton Vance Floating-Rate Income Trust declared a $0.0860 per share distribution, trading at $11.39 and offering a distribution rate of 9.06 percent. The Eaton Vance Senior Floating-Rate Trust followed with a $0.0770 distribution, supported by a market price of $11.22 and a distribution rate of 8.24 percent. The Eaton Vance Short Duration Diversified Income Fund declared a $0.0751 distribution, reflecting a modest increase of $0.0001 from the prior period, with a market price of $11.00 and a distribution rate of 8.19 percent. These funds remain particularly relevant for investors seeking income resilience amid shifting monetary policy conditions.
Funds Operating Under a Managed Distribution Plan
A significant portion of Eaton Vance’s closed-end fund lineup operates under a managed distribution plan, which aims to provide predictable monthly income while actively managing the sources of those distributions. Under this framework, Eaton Vance Enhanced Equity Income Fund declared a $0.1338 distribution per share, trading at $20.97 and producing a distribution rate of 7.66 percent. Eaton Vance Enhanced Equity Income Fund II announced a $0.1523 distribution, supported by a market price of $22.41 and a distribution rate of 8.16 percent. These equity income funds employ option strategies and dividend-focused portfolios to generate consistent cash flow for shareholders.
Risk-Managed and Tax-Advantaged Equity Income Offerings
The Eaton Vance Risk-Managed Diversified Equity Income Fund declared a $0.0651 per share distribution, trading at $8.90 and delivering a distribution rate of 8.78 percent. Meanwhile, Eaton Vance Tax-Advantaged Dividend Income Fund announced a $0.1646 distribution with a market price of $25.98 and a distribution rate of 7.60 percent. Eaton Vance Tax-Advantaged Global Dividend Income Fund declared a $0.1293 distribution, trading at $23.38 and yielding 6.64 percent, while Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund announced a $0.1733 distribution, supported by a market price of $30.32 and a distribution rate of 6.86 percent. These funds highlight Eaton Vance’s focus on tax efficiency and global diversification within income-oriented equity strategies.
Buy-Write and Global Diversified Equity Income Strategies
Eaton Vance’s buy-write and diversified equity income funds continue to serve investors seeking enhanced yield through options-based strategies. Eaton Vance Tax-Managed Buy-Write Income Fund declared a $0.1058 distribution, trading at $15.45 and offering a distribution rate of 8.22 percent. Eaton Vance Tax-Managed Buy-Write Opportunities Fund followed with a $0.0993 distribution, supported by a market price of $14.65 and a distribution rate of 8.13 percent. Eaton Vance Tax-Managed Diversified Equity Income Fund announced a $0.0992 distribution, trading at $15.28 and yielding 7.79 percent. Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund declared a $0.0664 distribution with a market price of $9.39 and a distribution rate of 8.49 percent, while Eaton Vance Tax-Managed Global Diversified Equity Income Fund announced a $0.0657 distribution, trading at $9.69 and offering a distribution rate of 8.14 percent.
Understanding the Managed Distribution Plan Framework
Funds operating under Eaton Vance’s managed distribution plans issue monthly notices and press releases detailing the amount and sources of each distribution on the payment date. These distributions may include income, capital gains, or return of capital, and they are not intended to represent fund performance or yield. Distributions may exceed the net return earned by the fund during a given period, which can result in a reduction of net asset value over time. Eaton Vance emphasizes that managed distribution plans may be amended or terminated by a fund’s Board of Trustees at any time without prior notice to shareholders.
Factors Influencing Distribution Sustainability
Each Eaton Vance closed-end fund intends to provide regular monthly cash distributions stated in fixed cents per share, but the ability to maintain these payments depends on multiple factors. These include the level and stability of investment income, market performance of underlying assets, fund expenses, leverage costs where applicable, realized and projected returns, and broader market conditions. Changes in interest rates, credit spreads, or equity market volatility may affect future distributions, and there is no assurance that current distribution levels will be maintained indefinitely.
Tax Treatment and Investor Considerations
Distributions from Eaton Vance closed-end funds may be characterized for U.S. federal income tax purposes as tax-exempt income, ordinary income, qualified dividends, capital gains, or return of capital. Because distributions may include return of capital, investors should not assume that payments represent net income or profit. Final tax characterizations are determined after year-end and reported to shareholders accordingly. Eaton Vance provides detailed distribution notices to shareholders with each payment, and additional information is made available prior to payment dates through its official fund website.
Eaton Vance’s Investment Philosophy and Global Capabilities
Eaton Vance applies in-depth fundamental research and active management across equity, income, alternative, and multi-asset strategies. The firm emphasizes disciplined risk management, tax-aware investment processes where applicable, and long-term consistency in portfolio construction. Its investment teams operate across global capital markets, leveraging deep expertise to navigate complex market environments. As part of Morgan Stanley Investment Management, Eaton Vance benefits from extensive global resources and institutional investment infrastructure.
Market Pricing, Discounts, and Investment Risks
Shares of Eaton Vance closed-end funds frequently trade at market prices that differ from net asset value, reflecting supply and demand dynamics, investor sentiment, distribution expectations, and confidence in underlying asset classes. Market prices may trade at discounts or premiums to net asset value depending on these factors. Closed-end fund investments carry inherent risks, including potential loss of principal, market volatility, and leverage-related risks. These funds are not complete investment programs and may not be suitable for all investors, underscoring the importance of evaluating investment objectives, risks, charges, and expenses before investing.
