Filed
pursuant to Rule
File No. 333-262832
EATON
VANCE TAX-ADVANTAGED DIVIDEND INCOME FUND
Supplement to Prospectus dated February 18, 2022
The following replaces the Financial Highlights contained in the Prospectus:
| Year Ended October 31, | Period
Ended October 31, 2018(1) |
Year
Ended August 31, | ||||||||||
| 2022 | 2021 | 2020 | 2019 | 2018 | ||||||||
| Net asset value – Beginning of year | $ | 28.610 | $ | 21.010 | $ | 24.340 | $ | 22.640 | $ | 24.250 | $ | 22.210 |
| Income (Loss) From Operations | ||||||||||||
| Net investment income(2) | $ | 0.575 | $ | 0.603 | $ | 0.622 | $ | 0.577 | $ | 0.075 | $ | 0.562 |
| Net realized and unrealized gain (loss) | (3.428) | 8.790 | (2.212) | 2.862 | (1.395) | 3.218 | ||||||
| Total income (loss) from operations | $ | (2.853) | $ | 9.393 | $ | (1.590) | $ | 3.439 | $ | (1.320) | $ | 3.780 |
| Less Distributions | ||||||||||||
| From net investment income | $ | (0.581) | $ | (0.594) | $ | (0.591) | $ | (0.560) | $ | (0.214) | $ | (0.469) |
| From net realized gain | (1.370) | (1.199) | (1.149) | (1.180) | (0.076) | (1.271) | ||||||
| Total distributions | $ | (1.951) | $ | (1.793) | $ | (1.740) | $ | (1.740) | $ | (0.290) | $ | (1.740) |
| Premium from common shares sold through shelf offering(2) | $ | 0.004 | $ | 0.000(3) | $ | 0.000(3) | $ | 0.001 | $ | – | $ | – |
| Net asset value – End of year | $ | 23.810 | $ | 28.610 | $ | 21.010 | $ | 24.340 | $ | 22.640 | $ | 24.250 |
| Market value – End of year | $ | 24.420 | $ | 29.360 | $ | 18.730 | $ | 24.950 | $ | 22.170 | $ | 24.370 |
| Total Investment Return on Net Asset Value(4) | (10.19)% | 45.70% | (6.13)% | 16.02% | (5.48)%(5) | 17.79% | ||||||
| Total Investment Return on Market Value(4) | (10.24)% | 67.72% | (18.36)% | 21.44% | (7.90)%(5) | 20.98% | ||||||
| Ratios/Supplemental Data | ||||||||||||
| Net assets, end of year (000’s omitted) | $ | 1,774,707 | $ | 2,106,999 | $ | 1,544,154 | $ | 1,784,376 | $ | 1,650,454 | $ | 1,767,150 |
| Ratios (as a percentage of average daily net assets): | ||||||||||||
| Expenses excluding interest and fees | 1.11% | 1.10% | 1.17% | 1.14% | 1.14%(6) | 1.14% | ||||||
| Interest and fee expense | 0.40% | 0.14% | 0.42% | 0.81% | 0.74%(6) | 0.61% | ||||||
| Total expenses | 1.51%(7) | 1.24% | 1.59% | 1.95% | 1.88%(6) | 1.75% | ||||||
| Net investment income | 2.21% | 2.26% | 2.81% | 2.51% | 1.88%(6) | 2.41% | ||||||
| Portfolio Turnover | 31% | 30% | 54% | 49% | 4%(5) | 58% | ||||||
| Senior Securities: | ||||||||||||
| Total amount outstanding (in 000’s) | $ | $ | $ | $ | $ | $ | ||||||
| Asset coverage per $1,000(8) | $ | $ | $ | $ | $ | $ | ||||||
(See related footnotes.)
| Year Ended August 31, | ||||||||||
| 2017 | 2016 | 2015 | 2014 | 2013 | ||||||
| Net asset value – Beginning of year | $ | 21.610 | $ | 21.220 | $ | 22.940 | $ | 19.500 | $ | 18.300 |
| Income (Loss) From Operations | ||||||||||
| Net investment income(2) | $ | 0.824 | $ | 0.743 | $ | 0.808 | $ | 1.429(9) | $ | 1.389 |
| Net realized and unrealized gain (loss) | 1.516 | 1.387 | (1.080) | 3.334 | 1.101 | |||||
| Total income (loss) from operations | $ | 2.340 | $ | 2.130 | $ | (0.272) | $ | 4.763 | $ | 2.490 |
| Less Distributions | ||||||||||
| From net investment income | $ | (0.863) | $ | (0.733) | $ | (1.085) | $ | (1.323) | $ | (1.290) |
| From net realized gain | (0.877) | (1.007) | (0.363) | – | – | |||||
| Total distributions | $ | (1.740) | $ | (1.740) | $ | (1.448) | $ | (1.323) | $ | (1.290) |
| Net asset value – End of year | $ | 22.210 | $ | 21.610 | $ | 21.220 | $ | 22.940 | $ | 19.500 |
| Market value – End of year | $ | 21.730 | $ | 20.880 | $ | 19.290 | $ | 20.560 | $ | 17.630 |
| Total Investment Return on Net Asset Value(4) | 11.57% | 11.25% | (0.67)% | 25.90% | 14.45% | |||||
| Total Investment Return on Market Value(4) | 12.97% | 18.24% | 0.76% | 24.80% | 14.09% | |||||
| Ratios/Supplemental Data | ||||||||||
| Net assets, end of year (000’s omitted) | $ | 1,617,605 | $ | 1,573,697 | $ | 1,545,306 | $ | 1,671,173 | $ | 1,420,015 |
| Ratios (as a percentage of average daily net assets): | ||||||||||
| Expenses excluding interest and fees(10) | 1.16% | 1.18% | 1.14% | 1.15% | 1.19% | |||||
| Interest and fee expense | 0.46% | 0.29% | 0.21% | 0.22% | 0.30% | |||||
| Total expenses(10) | 1.62% | 1.47% | 1.35% | 1.37% | 1.49% | |||||
| Net investment income | 3.75% | 3.53% | 3.57% | 6.63%(9) | 7.14% | |||||
| Portfolio Turnover | 85% | 91% | 99% | 68% | 84% | |||||
| Senior Securities: | ||||||||||
| Total amount outstanding (in 000’s) | $ | $ | $ | $ | $ | |||||
| Asset coverage per $1,000(8) | $ | $ | $ | $ | $ | |||||
| (1) | |
| (2) | Computed using average common shares outstanding. |
| (3) | Amount is less than $0.0005. |
| (4) | 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. |
| (5) | Not annualized. |
| (6) | Annualized. |
| (7) | 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 year ended October 31, 2022). |
| (8) | |
| (9) | Net investment income per share includes special dividends which amounted to $0.501 per share. Excluding special dividends, the ratio of net investment income to average daily net assets would have been 4.30%. |
| (10) | Excludes the effect of custody fee credits, if any, of less than 0.005%. Effective September 1, 2015, custody fee credits, which were earned on cash deposit balances, were discontinued by the custodian. |
March 1, 2023