Eaton Vance Senior Stock (NYSE:EFR), Trade Ideas

Eaton Vance Senior

Eaton Vance

Eaton Vance Senior Floating Rate Trust is a diversified, closed-end management investment company. Its primary investment objective is to provide a high level of current income. As a secondary objective, the fund intends to seek capital preservation. Its portfolio of investments consists of health care, industrial equipment, lodging and casinos, oil and gas, publishing, radio and television, telecommunications, and other areas. The trust invests in below investment grade floating rate loans, which are considered speculative because of the credit risk of their issuers.

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Eaton Vance Senior Floating-Rate Fund Common Shares of Beneficial Interest

Eaton Vance Senior Floating Rate Trust

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Nexus Industrial REIT

<p>Tuesday marks the last chance for investors to receive the next  dividend payout from <strong>Eaton Vance Senior</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFR#NYSE">EFR</a>). </p>
<h3>What's Happening</h3>
<p>The company announced on Thursday that it would pay shareholders a monthly dividend of 10.5 cents per share. On Wednesday, Eaton Vance Senior will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 10.5 cents lower than it would have opened on any other day.</p>
<p>In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Wednesday. Shareholders who own EFR as of the end of Tuesday's session are eligible to receive the 10.5 cents dividend payout for every share that they own. </p>
<p>According to the company, this dividend will be paid out to shareholders on June 30, 2023. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way. </p>
<p><a href="https://www.benzinga.com/stock//dividends">Click here</a> to find details on Eaton Vance Senior's previous dividends.</p>
<p>To keep track of which companies are distributing dividends, <a href="https://www.benzinga.com/calendars/dividends">click here</a> to visit our Dividends Calendar.  </p>


Dividends

Tuesday Is Your Last Chance To Buy Eaton Vance Senior Before The Dividend Payout

<p><strong>Saba Capital Management, L.P. and certain associated parties (collectively &quot;Saba&quot;) today announced that it has reached an agreement with Eaton Vance Management with respect to each of Eaton Vance Senior Income Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVF#NYSE">EVF</a>), Eaton Vance Floating-Rate Income Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFT#NYSE">EFT</a>), and Eaton Vance Senior Floating-Rate Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFR#NYSE">EFR</a>) (the &quot;Funds&quot;).</strong></p>
<p><strong>Under the terms of the agreements, Eaton Vance Senior Income Trust, Eaton Vance Floating-Rate Income Trust, and Eaton Vance Senior Floating-Rate Trust will commence cash tender offers for up to&nbsp;60%,&nbsp;50%, and&nbsp;50%, respectively, of the Funds&#39; outstanding shares of common stock at a price per share equal to&nbsp;99%&nbsp;of the Funds&#39; respective net asset values (&quot;NAV&quot;) per share. The Funds will repurchase shares tendered and accepted in the tender offers in exchange for cash.</strong></p>
<p><strong>The Funds also agreed to three conditional year-end tender offers for up to&nbsp;10%&nbsp;of their then outstanding common shares at&nbsp;98%&nbsp;of NAV, in the event the average discount to the respective fund&#39;s NAV from January 1 through August 31 of each of 2022, 2023, and 2024 exceeds&nbsp;10%&nbsp;based on the respective fund&#39;s volume-weighted average market price and NAV on the business days during such period. In addition, Saba has agreed to certain standstill covenants.</strong></p>


Saba Capital Reaches Agreements With Three Eaton Vance Closed-End Funds

<p>On April 1, 2021, <strong>Eaton Vance Senior</strong> (NYSE:<a class="ticker" href="/stock/EFR#NYSE">EFR</a>) announced shareholders can expect to receive a dividend payable on April 30, 2021. The stock will then go ex-dividend 1 business day(s) before the record date. Eaton Vance Senior has an ex-dividend date set for for April 22, 2021. The company&#39;s current dividend payout is $0.07, which equates to a dividend yield of 5.66% at current price levels.</p>
<h2>Understanding Ex-Dividend Dates&#39;</h2>
<p>An ex-dividend date is when a company&#39;s shares stop trading with its current dividend payout in preparation for the company to announce a new one. Usually, a company&#39;s ex-dividend date falls one business day before its record date. Investors should keep this in mind when purchasing stocks because buying them on or after ex-dividend dates does not qualify them to receive the declared payment. Newly declared dividends go to shareholders who have owned that stock before the ex-dividend date. Most ex-dividend dates operate on a quarterly basis.</p>
<h2>Understanding Eaton Vance Senior&#39;s Dividend Payouts And Yields</h2>
<p>Over the past year, Eaton Vance Senior has seen its dividend payouts remain the same and its yields trend downward. Last year on December 23, 2020 the company&#39;s payout sat at $0.07, which has returned to its value today. Eaton Vance Senior&#39;s dividend yield last year was 6.22%, which has since decreased by 0.56%.<br />
Companies use dividend yields in different strategic ways. Some companies may opt to not give yields altogether to reinvest in themselves. Other companies may opt to increase or decrease their yield amounts to control how their shares circulate throughout the stock market.</p>
<p>To read more about Eaton Vance Senior <a href="https://www.benzinga.com/stock/efr/">click here</a>.</p>


Ex-Dividend Date Insight: Eaton Vance Senior

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Eaton Vance Tax-Managed Diversified Equity

Eaton Vance Tax-Managed Global Diversified Equit

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<p>On December 18, 2020, <strong>Eaton Vance</strong> (NYSE:<a class="ticker" href="/stock/EFR#NYSE">EFR</a>) announced shareholders can expect to receive a dividend payable on January 15, 2021. The stock will then go ex-dividend 1 business day(s) before the record date. Eaton Vance, which has a current dividend per share of $0.07, has an ex-dividend date scheduled for December 29, 2020. That equates to a dividend yield of 6.09% at current price levels.</p>
<h2>Understanding Ex-Dividend Dates&#39;</h2>
<p>An ex-dividend date signals when a company&#39;s shares cease to trade with its current dividend payout. There is a small intermission period before the company announces a new dividend. Usually, a company&#39;s ex-dividend date falls one business day before its record date. Investors should keep this in mind when purchasing stocks because buying them on or after ex-dividend dates does not qualify them to receive the declared payment. Newly declared dividends go to shareholders who have owned that stock before the ex-dividend date. Most ex-dividend dates operate on a quarterly basis.</p>
<h2>Understanding Eaton Vance&#39;s Dividend History</h2>
<p>Over the past year, Eaton Vance has seen its dividend payouts remain the same and its yields trend downward. Last year on September 22, 2020 the company&#39;s payout sat at $0.07, which has returned to its value today. Eaton Vance&#39;s dividend yield last year was 6.57%, which has since decreased by 0.48%.<br />
Companies use dividend yields in different strategic ways. Some companies may opt to not give yields altogether to reinvest in themselves. Other companies may opt to increase or decrease their yield amounts to control how their shares circulate throughout the stock market.</p>
<p>To read more about Eaton Vance <a href="https://www.benzinga.com/stock/efr/">click here</a>.</p>
