Evergreen Closed-End Funds Declare Monthly Dividends
June 11, 2009BOSTON – Evergreen Investments today announced the dividend declaration for Evergreen Income Advantage Fund (NYSE Amex:EAD), Evergreen Multi-Sector Income Fund (NYSE Amex:ERC), Evergreen Utilities and High Income Fund (NYSE Amex:ERH), Evergreen International Balanced Income Fund (NYSE:EBI) and Evergreen Global Dividend Opportunity Fund (NYSE:EOD). Evergreen also announced a reduction in the monthly dividend rate of Evergreen Income Advantage Fund and in the quarterly dividend rate of Evergreen Global Dividend Opportunity Fund.
Evergreen Income Advantage Fund is a closed-end high-yield bond fund. The Fund's investment objective is to seek a high level of current income. The Fund may, as a secondary objective, seek capital appreciation to the extent it is consistent with its investment objective. The dividend below is a reduction in the stable dividend rate equal to $0.0165 per common share. The reduction in the dividend rate is primarily attributable to lower yields in the portfolio since credit spreads have compressed significantly. At the new distribution rate of $0.0929 per common share, the common share distribution yield will be 7.44% as a percent of the initial offer price.
Evergreen Income Advantage Fund declared the following monthly dividend from ordinary income:
| Declaration Date | Ex-Dividend Date | Record Date | Payable Date | Dividend Rate/Share |
| June 11, 2009 | July 13, 2009 | July 15, 2009 | August 3, 2009 | $0.0929 / share |
Evergreen Multi-Sector Income Fund is a closed-end bond fund. The Fund’s primary investment objective is to seek a high level of current income consistent with limiting its overall exposure to domestic interest rate risk.
Evergreen Multi-Sector Income Fund declared the following monthly dividend from ordinary income:
| Declaration Date | Ex-Dividend Date | Record Date | Payable Date | Dividend Rate/Share |
| June 11, 2009 | July 13, 2009 | July 15, 2009 | August 3, 2009 | $0.1083 / share |
Evergreen Utilities and High Income Fund is a closed-end equity and high-yield bond fund. The Fund’s primary investment objective is to seek a high level of current income and moderate capital growth, with emphasis on providing tax-advantaged dividend income.
Evergreen Utilities and High Income Fund declared the following monthly dividend from ordinary income:
| Declaration Date | Ex-Dividend Date | Record Date | Payable Date | Dividend Rate/Share |
| June 11, 2009 | July 13, 2009 | July 15, 2009 | August 3, 2009 | $0.11 / share |
Evergreen International Balanced Income Fund is a closed-end fund investing primarily in international stocks and bonds. The Fund's investment objective is to seek to provide a high level of income.
Evergreen International Balanced Income Fund declared the following monthly dividend from ordinary income:
| Declaration Date | Ex-Dividend Date | Record Date | Payable Date | Dividend Rate/Share |
| June 11, 2009 | July 13, 2009 | July 15, 2009 | August 3, 2009 | $0.085/ share |
Evergreen Global Dividend Opportunity Fund is a closed-end fund investing primarily in a diversified portfolio of common stocks of U.S. and non-U.S. companies. The Fund's investment objective is to seek a high level of current income and its secondary objective is long-term growth of capital. The Fund pays distributions on a quarterly basis. Effective for the next quarterly distribution, which will have an ex-dividend date of September 14, 2009 and a payable date of October 1, 2009, the Fund will have a new dividend rate of $0.28 per common share. The new dividend rate represents a reduction equal to $0.22 per common share and results in a common share distribution yield of 5.60% as a percent of the initial offer price. The reduction in the dividend rate is primarily attributable to changing market conditions, which have resulted in adjustments to the portfolio's income projections.
To make changes to your account, please contact your financial advisor, brokerage firm, bank, or other nominee with whom your shares are registered. If your shares are registered with the funds’ transfer agent, Computershare, please contact them directly at 1-800-730-6001 or visit www.computershare.com.
These closed-end funds are no longer offered as an initial public offering and are only offered through broker/dealers on the secondary market.
About Evergreen Investments
Evergreen Investments is one of the brand names under which Wells Fargo & Company (NYSE:WFC) conducts its investment management business. Wells Fargo & Company is a diversified financial services company with $1.3 trillion in assets (as of March 31, 2009), providing banking, insurance, investments, mortgage and consumer finance through almost 11,000 stores and the Internet (WellsFargo.com) across North America and internationally. Wachovia Global Asset Management is the brand name under which Evergreen Investments conducts sales and distribution business outside of the United States. Combined, the groups serve more than four million individual and institutional investors through a broad range of investment products. Led by more than 300 investment professionals, Evergreen Investments strives to meet client investment objectives through disciplined, team-based asset management. Evergreen Investments manages more than $164 billion in assets (as of March 31, 2009).
