UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act File Number: 811-22380
Eaton Vance Tax-Managed Buy-Write Strategy Fund
(Exact Name of Registrant as Specified in Charter)
Two International Place, Boston, Massachusetts 02110
(Address of Principal Executive Offices)
Deidre E. Walsh
Two International Place, Boston, Massachusetts 02110
(Name and Address of Agent for Services)
(617) 482-8260
(Registrants Telephone Number)
December 31
Date of Fiscal Year End
June 30, 2022
Date of Reporting Period
Item 1. Reports to Stockholders
% Premium/Discount to NAV2 | |
5.52% |
Distributions 3 | |
Total Distributions per share for the period | $0.425 |
Distribution Rate at NAV | 8.84% |
Distribution Rate at Market Price | 8.38 |
Written
Call Options (Exchange-Traded) (continued)
Description
Number
of
Contracts Notional
Amount Exercise
Price Expiration
Date Value
NASDAQ
100 Index
3
$
3,451,116
$
11,600
7/15/22
$ (75,495)
NASDAQ
100 Index
3
3,451,116
11,900
7/18/22
(45,510)
NASDAQ
100 Index
2
2,300,744
12,050
7/20/22
(25,240)
NASDAQ
100 Index
2
2,300,744
12,350
7/22/22
(14,970)
NASDAQ
100 Index
3
3,451,116
12,350
7/25/22
(24,345)
NASDAQ
100 Index
2
2,300,744
12,000
7/27/22
(38,200)
S&P
500 Index
12
4,542,456
4,200
7/1/22
(30)
S&P
500 Index
11
4,163,918
4,210
7/5/22
(55)
S&P
500 Index
12
4,542,456
4,225
7/6/22
(60)
S&P
500 Index
12
4,542,456
4,025
7/8/22
(1,920)
S&P
500 Index
12
4,542,456
3,890
7/11/22
(22,740)
S&P
500 Index
12
4,542,456
3,875
7/13/22
(38,280)
S&P
500 Index
12
4,542,456
3,780
7/15/22
(99,780)
S&P
500 Index
12
4,542,456
3,850
7/18/22
(61,920)
S&P
500 Index
12
4,542,456
3,900
7/20/22
(45,840)
S&P
500 Index
12
4,542,456
3,950
7/22/22
(33,240)
S&P
500 Index
12
4,542,456
3,975
7/25/22
(29,160)
S&P
500 Index
12
4,542,456
3,910
7/27/22
(58,800)
Total
$(692,573)
Abbreviations:
ADR
– American
Depositary Receipt
June
30, 2022
Assets
Unaffiliated
investments, at value (identified cost $58,665,282)
$
94,222,043
Affiliated
investment, at value (identified cost $249,666)
249,666
Dividends
receivable
49,380
Dividends
receivable from affiliated investment
537
Receivable
from the transfer agent
17,619
Total
assets
$94,539,245
Liabilities
Written
options outstanding, at value (premiums received $1,785,701)
$
692,573
Payable
to affiliates:
Investment
adviser and administration fee
78,719
Trustees'
fees
1,563
Accrued
expenses
67,858
Total
liabilities
$
840,713
Net
Assets
$93,698,532
Sources
of Net Assets
Common
shares, $0.01 par value, unlimited number of shares authorized
$
97,524
Additional
paid-in capital
86,240,105
Distributable
earnings
7,360,903
Net
Assets
$93,698,532
Common
Shares Issued and Outstanding
9,752,378
Net
Asset Value Per Common Share
Net
assets ÷ common shares issued and outstanding
$
9.61
Six
Months Ended
June
30, 2022
Investment
Income
Dividend
income
$
640,858
Dividend
income from affiliated investments
1,093
Total
investment income
$
641,951
Expenses
Investment
adviser and administration fee
$
521,803
Trustees’
fees and expenses
3,238
Custodian
fee
39,184
Transfer
and dividend disbursing agent fees
8,910
Legal
and accounting services
26,338
Printing
and postage
44,159
Miscellaneous
13,020
Total
expenses
$
656,652
Deduct:
Waiver
and/or reimbursement of expenses by affiliate
$
128
Total
expense reductions
$
128
Net
expenses
$
656,524
Net
investment loss
$
(14,573)
Realized
and Unrealized Gain (Loss)
Net
realized gain (loss):
Investment
transactions
$
(1,221,096)
Investment
transactions - affiliated investment
57
Written
options
7,836,234
Net
realized gain
$
6,615,195
Change
in unrealized appreciation (depreciation):
Investments
$
(27,925,076)
Written
options
1,421,483
Net
change in unrealized appreciation (depreciation)
$(26,503,593)
Net
realized and unrealized loss
$(19,888,398)
Net
decrease in net assets from operations
$(19,902,971)
Six
Months Ended
June 30, 2022
(Unaudited) Year
Ended
December 31, 2021
Increase
(Decrease) in Net Assets
From
operations:
Net
investment loss
$
(14,573)
$
(89,886)
Net
realized gain
6,615,195
3,386,442
Net
change in unrealized appreciation (depreciation)
(26,503,593)
20,046,247
Net
increase (decrease) in net assets from operations
$
(19,902,971)
$
23,342,803
Distributions
to shareholders
$
(4,140,219)*
$
—
Tax
return of capital to shareholders
$
—
$
(8,270,714)
Capital
share transactions:
Reinvestment
of distributions
$
108,670
$
123,723
Net
increase in net assets from capital share transactions
$
108,670
$
123,723
Net
increase (decrease) in net assets
$
(23,934,520)
$
15,195,812
Net
Assets
At
beginning of period
$117,633,052
$
102,437,240
At
end of period
$
93,698,532
$117,633,052
*
A
portion of the distributions may be deemed a tax return of capital at year-end. See Note 2.
Six
Months Ended
June 30, 2022
(Unaudited) Year
Ended December 31,
2021
2020
2019
2018
2017
Net
asset value — Beginning of period
$
12.070
$
10.530
$
10.540
$
9.990
$11.450
$
12.760
Income
(Loss) From Operations
Net
investment income (loss)(1)
$
(0.001)
$
(0.009)
$
0.025
$
0.054
$
0.094
$
0.101
Net
realized and unrealized gain (loss)
(2.034)
2.399
0.815
1.204
(0.784)
(0.251)
Total
income (loss) from operations
$
(2.035)
$
2.390
$
0.840
$
1.258
$
(0.690)
$
(0.150)
Less
Distributions
From
net investment income
$
(0.425)*
$
—
$
(0.025)
$
(0.057)
$
(0.093)
$
(0.101)
Tax
return of capital
—
(0.850)
(0.825)
(0.651)
(0.677)
(1.059)
Total
distributions
$
(0.425)
$
(0.850)
$
(0.850)
$
(0.708)
$
(0.770)
$
(1.160)
Net
asset value — End of period
$
9.610
$
12.070
$
10.530
$
10.540
$
9.990
$
11.450
Market
value — End of period
$10.140
$
12.220
$
9.900
$
10.240
$
8.520
$
10.250
Total
Investment Return on Net Asset Value(2)
(17.14)%
(3)
23.54%
9.44%
13.51%
(5.22)%
(0.59)%
Total
Investment Return on Market Value(2)
(13.64)%
(3)
33.03%
5.90%
29.31%
(9.71)%
0.22%
Ratios/Supplemental
Data
Net
assets, end of period (000’s omitted)
$
93,699
$117,633
$102,437
$102,573
$97,207
$111,381
Ratios
(as a percentage of average daily net assets):
Expenses
1.26%
(4)(5)
1.21%
1.25%
1.32%
1.49%
1.45%
Net
investment income (loss)
(0.03)%
(4)
(0.08)%
0.25%
0.53%
0.90%
0.81%
Portfolio
Turnover
6%
(3)
3%
21%
109%
59%
68%
(1)
Computed
using average shares outstanding.
(2)
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.
(3)
Not
annualized.
(4)
Annualized.
(5)
The
investment adviser reduced a portion of its adviser and administration fee (equal to less than 0.005% of average daily net assets for the six months ended June 30, 2022).
*
A
portion of the distributions may be deemed from net realized gain or a tax return of capital at year-end. See Note 2.
Aggregate
cost
$57,124,500
Gross
unrealized appreciation
$
37,348,163
Gross
unrealized depreciation
(693,527)
Net
unrealized appreciation
$36,654,636
Fair
Value
Derivative
Asset
Derivative
Liability
Derivative(1)
Written
options
$ —
$(692,573)
(1)
Statement
of Assets and Liabilities location: Written options outstanding, at value.
Derivative
Realized
Gain (Loss)
on Derivatives Recognized
in Income(1) Change
in Unrealized
Appreciation (Depreciation) on
Derivatives Recognized in Income(2)
Written
options
$7,836,234
$1,421,483
(1)
Statement
of Operations location: Net realized gain (loss): Written options.
(2)
Statement
of Operations location: Change in unrealized appreciation (depreciation): Written options.
Name
Value,
beginning
of period Purchases
Sales
proceeds Net
realized
gain (loss) Change
in
unrealized
appreciation
(depreciation) Value,
end
of period Dividend
income Units/Shares,
end of period
Short-Term
Investments
Cash
Reserves Fund
$166,597
$4,788,624
$(4,955,278)
$
57
$
—
$
—
$
200
—
Liquidity
Fund
—
4,969,897
(4,720,231)
—
—
249,666
893
249,666
Total
$
57
$ —
$249,666
$1,093
•
Level 1 – quoted prices
in active markets for identical investments
•
Level 2 – other
significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3
– significant unobservable inputs (including a fund's own assumptions in determining the fair value of investments)
Asset
Description
Level
1
Level
2
Level
3
Total
Common
Stocks
$
94,222,043*
$
—
$
—
$
94,222,043
Short-Term
Investments
249,666
—
—
249,666
Total
Investments
$
94,471,709
$ —
$ —
$
94,471,709
Liability
Description
Written
Call Options
$
(692,573)
$
—
$
—
$
(692,573)
Total
$
(692,573)
$ —
$ —
$
(692,573)
*
The
level classification by major category of investments is the same as the category presentation in the Portfolio of Investments.
Number
of Shares
Nominees
for Trustee
For
Withheld
Mark
R. Fetting
6,815,997
124,840
Valerie
A. Mosley
6,804,221
136,616
Helen
Frame Peters*
6,801,452
139,385
Marcus
L. Smith
6,807,208
133,629
Officers
Edward
J. Perkin
President Jill R.
Damon
Secretary
Deidre
E. Walsh
Vice President and Chief Legal Officer Richard F.
Froio
Chief Compliance Officer
James
F. Kirchner
Treasurer
Trustees
*
Interested
Trustee
**
Ms.
Wiser began serving as a Trustee effective April 4, 2022.
Privacy
Notice
April 2021
FACTS
WHAT
DOES EATON VANCE DO WITH YOUR
PERSONAL INFORMATION?
Why?
Financial
companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read
this notice carefully to understand what we do.
What?
The
types of personal information we collect and share depend on the product or service you have with us. This information can include:■ Social Security number and income
■ investment
experience and risk tolerance
■ checking account number and wire transfer instructions
How?
All
financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons Eaton Vance
chooses to share; and whether you can limit this sharing.
Reasons
we can share your
personal information Does
Eaton Vance
share? Can
you limit
this sharing?
For
our everyday business purposes — such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus
Yes
No
For
our marketing purposes — to offer our products and services to you
Yes
No
For
joint marketing with other financial companies
No
We
don’t share
For
our investment management affiliates’ everyday business purposes — information about your transactions, experiences, and creditworthiness
Yes
Yes
For
our affiliates’ everyday business purposes — information about your transactions and experiences
Yes
No
For
our affiliates’ everyday business purposes — information about your creditworthiness
No
We
don’t share
For
our investment management affiliates to market to you
Yes
Yes
For
our affiliates to market to you
No
We
don’t share
For
nonaffiliates to market to you
No
We
don’t share
To
limit our
sharing Call
toll-free 1-800-262-1122 or email: EVPrivacy@eatonvance.comPlease note:If you are a new customer,
we can begin sharing your information 30 days from the date we sent this notice. When you are no longer our customer, we continue to share your information as described in this notice. However, you can contact
us at any time to limit our sharing.
Questions?
Call
toll-free 1-800-262-1122 or email: EVPrivacy@eatonvance.com
Privacy
Notice — continued
April 2021
Who
we are
Who
is providing this notice?
Eaton
Vance Management, Eaton Vance Distributors, Inc., Eaton Vance Trust Company, Eaton Vance Management (International) Limited, Eaton Vance Advisers International Ltd., Eaton Vance Global Advisors Limited, Eaton Vance Management’s Real Estate
Investment Group, Boston Management and Research, Calvert Research and Management, Eaton Vance and Calvert Fund Families and our investment advisory affiliates (“Eaton Vance”) (see Investment Management Affiliates definition below)
What
we do
How
does Eaton Vance
protect my personal
information? To
protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings. We have policies governing the proper handling of
customer information by personnel and requiring third parties that provide support to adhere to appropriate security standards with respect to such information.
How
does Eaton Vance
collect my personal
information? We
collect your personal information, for example, when you■ open an account or make deposits or withdrawals from your account
■ buy securities from us or make a wire transfer
■ give us your contact informationWe also collect your personal information from others, such as credit bureaus, affiliates, or other companies.
Why
can’t I limit all sharing?
Federal
law gives you the right to limit only■ sharing for affiliates’ everyday business purposes — information about your creditworthiness
■ affiliates from using your information
to market to you
■ sharing for nonaffiliates to market to youState laws and individual companies may give you additional rights to limit sharing. See below for more on your rights under state law.
Definitions
Investment
Management
Affiliates Eaton
Vance Investment Management Affiliates include registered investment advisers, registered broker- dealers, and registered and unregistered funds. Investment Management Affiliates does not include entities associated with Morgan Stanley Wealth
Management, such as Morgan Stanley Smith Barney LLC and Morgan Stanley & Co.
Affiliates
Companies
related by common ownership or control. They can be financial and nonfinancial companies.■ Our affiliates include companies with a Morgan Stanley name and financial
companies such as Morgan Stanley Smith Barney LLC and Morgan Stanley & Co.
Nonaffiliates
Companies
not related by common ownership or control. They can be financial and nonfinancial companies.■ Eaton Vance does not share with nonaffiliates so they can market to
you.
Joint
marketing
A
formal agreement between nonaffiliated financial companies that together market financial products or services to you.■ Eaton Vance doesn’t jointly market.
Other
important information
Vermont:
Except as permitted by law, we will not share personal information we collect about Vermont residents with Nonaffiliates unless you provide us with your written consent to share such
information.California: Except as permitted by law, we will not share personal information we collect about California residents with Nonaffiliates and we will limit sharing
such personal information with our Affiliates to comply with California privacy laws that apply to us.
Item 2. Code of Ethics
Not required in this filing.
Item 3. Audit Committee Financial Expert
Not required in this filing.
Item 4. Principal Accountant Fees and Services
Not required in this filing.
Item 5. Audit Committee of Listed Registrants
Not required in this filing.
Item 6. Schedule of Investments
Please see schedule of investments contained in the Report to Stockholders included under Item 1 of this Form N-CSR.
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
Not required in this filing.
Item 8. Portfolio Managers of Closed-End Management Investment Companies
Not required in this filing.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
No such purchases this period.
Item 10. Submission of Matters to a Vote of Security Holders
No material changes.
Item 11. Controls and Procedures
(a) It is the conclusion of the registrants principal executive officer and principal financial officer that the effectiveness of the registrants current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant has been recorded, processed, summarized and reported within the time period specified in the Commissions rules and forms and that the information required to be disclosed by the registrant has been accumulated and communicated to the registrants principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.
(b) There have been no changes in the registrants internal controls over financial reporting during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting.
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies
No activity to report for the registrants most recent fiscal year end.
Item 13. Exhibits
(a)(1) |
Registrants Code of Ethics Not applicable (please see Item 2). | |
(a)(2)(i) |
Treasurers Section 302 certification. | |
(a)(2)(ii) |
Presidents Section 302 certification. | |
(b) |
Combined Section 906 certification. | |
(c) |
Registrants notices to shareholders pursuant to Registrants exemptive order granting an exemption from Section 19(b) of the 1940 Act and Rule 19b-1 thereunder regarding distributions paid pursuant to the Registrants Managed Distribution Plan. |
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Eaton Vance Tax-Managed Buy-Write Strategy Fund
By: | /s/ Edward J. Perkin | |
Edward J. Perkin | ||
President |
Date: August 22, 2022
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/ James F. Kirchner | |
James F. Kirchner | ||
Treasurer |
Date: August 22, 2022
By: | /s/ Edward J. Perkin | |
Edward J. Perkin | ||
President |
Date: August 22, 2022
Eaton Vance Tax-Managed Buy-Write Strategy Fund
FORM N-CSR
Exhibit 13(a)(2)(i)
CERTIFICATION
I, James F. Kirchner, certify that:
1. | I have reviewed this report on Form N-CSR of Eaton Vance Tax-Managed Buy-Write Strategy Fund; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; |
4. | The registrants other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: |
(a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
(b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
(c) | Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and |
(d) | Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and |
5. | The registrants other certifying officer(s) and I have disclosed to the registrants auditors and the audit committee of the registrants board of directors (or persons performing the equivalent functions): |
(a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize, and report financial information; and |
(b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting. |
Date: August 22, 2022
/s/ James F. Kirchner |
James F. Kirchner |
Treasurer |
Eaton Vance Tax-Managed Buy-Write Strategy Fund
FORM N-CSR
Exhibit 13(a)(2)(ii)
I, Edward J. Perkin, certify that:
1. | I have reviewed this report on Form N-CSR of Eaton Vance Tax-Managed Buy-Write Strategy Fund; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; |
4. | The registrants other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: |
(a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
(b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
(c) | Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and |
(d) | Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and |
5. | The registrants other certifying officer(s) and I have disclosed to the registrants auditors and the audit committee of the registrants board of directors (or persons performing the equivalent functions): |
(a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize, and report financial information; and |
(b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting. |
Date: August 22, 2022
/s/ Edward J. Perkin |
Edward J. Perkin |
President |
Form N-CSR Item 13(b) Exhibit
CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
The undersigned hereby certify in their capacity as Treasurer and President, respectively, of Eaton Vance Tax-Managed Buy-Write Strategy Fund (the Fund), that:
(a) | The Semiannual Report of the Fund on Form N-CSR for the period ended June 30, 2022 (the Report) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and |
(b) | The information contained in the Report fairly presents, in all material respects, the financial condition and the results of operations of the Fund for such period. |
A signed original of this written statement required by section 906 has been provided to the Fund and will be retained by the Fund and furnished to the Securities and Exchange Commission or its staff upon request.
Eaton Vance Tax-Managed Buy-Write Strategy Fund
Date: August 22, 2022
/s/ James F. Kirchner |
James F. Kirchner |
Treasurer |
Date: August 22, 2022 |
/s/ Edward J. Perkin |
Edward J. Perkin |
President |
Form N-CSR Item 13(c) Exhibit
Dear Eaton Vance Fund Shareholder:
This notice provides shareholders of the Eaton Vance Tax-Managed Buy-Write Strategy Fund (NYSE: EXD) with important information concerning the distribution declared in January 2022. You are receiving this notice as a requirement of the Funds managed distribution plan (Plan). The Board of Trustees approved the implementation of the Plan to make monthly 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 January distribution. It is not determinative of the tax character of the Funds distributions for the 2022 calendar year.
The amounts and sources of distributions reported in this notice are estimates, are not being provided for tax reporting purposes and the distribution may later be determined to be from other sources including realized short-term gains, long-term gains, to the extent permitted by law, and return of capital. The actual amounts and sources for tax reporting purposes will depend upon the Funds investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The 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.
Distribution Period: January 2022
Distribution Amount per Common Share: $0.0708
The following table sets forth an estimate of the sources of the Funds January distribution and its cumulative distributions paid this fiscal year to date. Amounts are expressed on a per common share basis and as a percentage of the distribution amount.
Eaton Vance Tax-Managed Buy-Write Strategy Fund | ||||||||||||||||
Source |
Current Distribution |
% of Current Distribution |
Cumulative Distributions for the Fiscal Year-to-Date1 |
% of the Cumulative Distributions for the Fiscal Year-to-Date1 |
||||||||||||
Net Investment Income |
$ | 0.0000 | 0.0 | % | $ | 0.0000 | 0.0 | % | ||||||||
Net Realized Short-Term Capital Gains |
$ | 0.0000 | 0.0 | % | $ | 0.0000 | 0.0 | % | ||||||||
Net Realized Long-Term Capital Gains |
$ | 0.0000 | 0.0 | % | $ | 0.0000 | 0.0 | % | ||||||||
Return of Capital or Other Capital Source(s) |
$ | 0.0708 | 100.0 | % | $ | 0.0708 | 100.0 | % | ||||||||
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Total per common share |
$ | 0.0708 | 100.0 | % | $ | 0.0708 | 100.0 | % | ||||||||
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1 | The Funds fiscal year is January 1, 2022 to December 31, 2022 |
IMPORTANT DISCLOSURE: You should not draw any conclusions about the Funds investment performance from the amount of this distribution or from the terms of the Funds Plan. The 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 the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Funds 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 the Funds investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The 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.
Set forth in the table below is information relating to the Funds performance based on its net asset value (NAV) for certain periods.
Average annual total return at NAV for the 5-year period ended on December 31, 20211 |
7.65 | % | ||
Annualized current distribution rate expressed as a percentage of NAV as of December 31, 20212 |
7.04 | % | ||
Cumulative total return at NAV for the fiscal year through December 31, 20213 |
23.54 | % | ||
Cumulative fiscal year to date distribution rate as a percentage of NAV as of December 31, 20214 |
7.04 | % |
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 December 31, 2021. |
2 | The annualized current distribution rate is the cumulative distribution rate annualized as a percentage of the Funds NAV as of December 31, 2021. |
3 | Cumulative total return at NAV is the percentage change in the Funds NAV for the period from the beginning of its fiscal year to December 31, 2021 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 December 31, 2021 measured on the dollar value of distributions in the year-to-date period as a percentage of the Funds NAV as of December 31, 2021. |
If you have any questions regarding this information, please contact your investment advisor or an Eaton Vance Investor Services associate at 1-866-328-6681. Our associates are available to assist you Monday-Friday 8:30 a.m. to 5:30 p.m., Eastern Time.
NOTE: This correspondence is for informational purposes only and should not be relied upon to project the tax character of actual Fund distributions for the 2022 calendar year.
NO ACTION IS REQUIRED ON YOUR PART.
Eaton Vance Tax-Managed Buy-Write Strategy Fund
January 31, 2022
Dear Eaton Vance Fund Shareholder:
This notice provides shareholders of the Eaton Vance Tax-Managed Buy-Write Strategy Fund (NYSE: EXD) with important information concerning the distribution declared in February 2022. You are receiving this notice as a requirement of the Funds managed distribution plan (Plan). The Board of Trustees approved the implementation of the Plan to make monthly 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 February distribution. It is not determinative of the tax character of the Funds distributions for the 2022 calendar year.
The amounts and sources of distributions reported in this notice are estimates, are not being provided for tax reporting purposes and the distribution may later be determined to be from other sources including realized short-term gains, long-term gains, to the extent permitted by law, and return of capital. The actual amounts and sources for tax reporting purposes will depend upon the Funds investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The 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.
Distribution Period: February 2022
Distribution Amount per Common Share: $0.0708
The following table sets forth an estimate of the sources of the Funds February distribution and its cumulative distributions paid this fiscal year to date. Amounts are expressed on a per common share basis and as a percentage of the distribution amount.
Eaton Vance Tax-Managed Buy-Write Strategy Fund | ||||||||||||||||
Source |
Current Distribution |
% of Current Distribution |
Cumulative Distributions for the Fiscal Year-to-Date1 |
% of the Cumulative Distributions for the Fiscal Year-to-Date1 |
||||||||||||
Net Investment Income |
$ | 0.0000 | 0.0 | % | $ | 0.0000 | 0.0 | % | ||||||||
Net Realized Short-Term Capital Gains |
$ | 0.0000 | 0.0 | % | $ | 0.0000 | 0.0 | % | ||||||||
Net Realized Long-Term Capital Gains |
$ | 0.0000 | 0.0 | % | $ | 0.0000 | 0.0 | % | ||||||||
Return of Capital or Other Capital Source(s) |
$ | 0.0708 | 100.0 | % | $ | 0.1416 | 100.0 | % | ||||||||
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Total per common share |
$ | 0.0708 | 100.0 | % | $ | 0.1416 | 100.0 | % | ||||||||
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1 The Funds fiscal year is January 1, 2022 to December 31, 2022
IMPORTANT DISCLOSURE: You should not draw any conclusions about the Funds investment performance from the amount of this distribution or from the terms of the Funds Plan. The 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 the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Funds 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 the Funds investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The 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.
Set forth in the table below is information relating to the Funds performance based on its net asset value (NAV) for certain periods.
Average annual total return at NAV for the 5-year period ended on January 31, 20221 |
6.26 | % | ||
Annualized current distribution rate expressed as a percentage of NAV as of January 31, 20222 |
7.45 | % | ||
Cumulative total return at NAV for the fiscal year through January 31, 20223 |
-4.88 | % | ||
Cumulative fiscal year to date distribution rate as a percentage of NAV as of January 31, 20224 |
0.62 | % |
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 January 31, 2022. |
2 | The annualized current distribution rate is the cumulative distribution rate annualized as a percentage of the Funds NAV as of January 31, 2022. |
3 | Cumulative total return at NAV is the percentage change in the Funds NAV for the period from the beginning of its fiscal year to January 31, 2022 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 January 31, 2022 measured on the dollar value of distributions in the year-to-date period as a percentage of the Funds NAV as of January 31, 2022. |
If you have any questions regarding this information, please contact your investment advisor or an Eaton Vance Investor Services associate at 1-866-328-6681. Our associates are available to assist you Monday-Friday 8:30 a.m. to 5:30 p.m., Eastern Time.
NOTE: This correspondence is for informational purposes only and should not be relied upon to project the tax character of actual Fund distributions for the 2022 calendar year.
NO ACTION IS REQUIRED ON YOUR PART.
Eaton Vance Tax-Managed Buy-Write Strategy Fund
February 28, 2022
Dear Eaton Vance Fund Shareholder:
This notice provides shareholders of the Eaton Vance Tax-Managed Buy-Write Strategy Fund (NYSE: EXD) with important information concerning the distribution declared in March 2022. You are receiving this notice as a requirement of the Funds managed distribution plan (Plan). The Board of Trustees approved the implementation of the Plan to make monthly 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 March distribution. It is not determinative of the tax character of the Funds distributions for the 2022 calendar year.
The amounts and sources of distributions reported in this notice are estimates, are not being provided for tax reporting purposes and the distribution may later be determined to be from other sources including realized short-term gains, long-term gains, to the extent permitted by law, and return of capital. The actual amounts and sources for tax reporting purposes will depend upon the Funds investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The 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.
Distribution Period: March 2022
Distribution Amount per Common Share: $0.0708
The following table sets forth an estimate of the sources of the Funds March distribution and its cumulative distributions paid this fiscal year to date. Amounts are expressed on a per common share basis and as a percentage of the distribution amount.
Eaton Vance Tax-Managed Buy-Write Strategy Fund | ||||||||||||||||
Source |
Current Distribution |
% of Current Distribution |
Cumulative Distributions for the Fiscal Year-to-Date1 |
% of the Cumulative Distributions for the Fiscal Year-to-Date1 |
||||||||||||
Net Investment Income |
$ | 0.0000 | 0.0 | % | $ | 0.0000 | 0.0 | % | ||||||||
Net Realized Short-Term Capital Gains |
$ | 0.0000 | 0.0 | % | $ | 0.0000 | 0.0 | % | ||||||||
Net Realized Long-Term Capital Gains |
$ | 0.0000 | 0.0 | % | $ | 0.0000 | 0.0 | % | ||||||||
Return of Capital or Other Capital Source(s) |
$ | 0.0708 | 100.0 | % | $ | 0.2124 | 100.0 | % | ||||||||
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Total per common share |
$ | 0.0708 | 100.0 | % | $ | 0.2124 | 100.0 | % | ||||||||
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1 | The Funds fiscal year is January 1, 2022 to December 31, 2022 |
IMPORTANT DISCLOSURE: You should not draw any conclusions about the Funds investment performance from the amount of this distribution or from the terms of the Funds Plan. The 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 the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Funds 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 the Funds investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The 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.
Set forth in the table below is information relating to the Funds performance based on its net asset value (NAV) for certain periods.
Average annual total return at NAV for the 5-year period ended on February 28, 20221 |
6.33 | % | ||
Annualized current distribution rate expressed as a percentage of NAV as of February 28, 20222 |
7.66 | % | ||
Cumulative total return at NAV for the fiscal year through February 28, 20223 |
-6.96 | % | ||
Cumulative fiscal year to date distribution rate as a percentage of NAV as of February 28, 20224 |
1.28 | % |
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 February 28, 2022. |
2 | The annualized current distribution rate is the cumulative distribution rate annualized as a percentage of the Funds NAV as of February 28, 2022. |
3 | Cumulative total return at NAV is the percentage change in the Funds NAV for the period from the beginning of its fiscal year to February 28, 2022 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 February 28, 2022 measured on the dollar value of distributions in the year-to-date period as a percentage of the Funds NAV as of February 28, 2022. |
If you have any questions regarding this information, please contact your investment advisor or an Eaton Vance Investor Services associate at 1-866-328-6681. Our associates are available to assist you Monday-Friday 8:30 a.m. to 5:30 p.m., Eastern Time.
NOTE: This correspondence is for informational purposes only and should not be relied upon to project the tax character of actual Fund distributions for the 2022 calendar year.
NO ACTION IS REQUIRED ON YOUR PART.
Eaton Vance Tax-Managed Buy-Write Strategy Fund
March 31, 2022
Dear Eaton Vance Fund Shareholder:
This notice provides shareholders of the Eaton Vance Tax-Managed Buy-Write Strategy Fund (NYSE: EXD) with important information concerning the distribution declared in April 2022. You are receiving this notice as a requirement of the Funds managed distribution plan (Plan). The Board of Trustees approved the implementation of the Plan to make monthly 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 April distribution. It is not determinative of the tax character of the Funds distributions for the 2022 calendar year.
The amounts and sources of distributions reported in this notice are estimates, are not being provided for tax reporting purposes and the distribution may later be determined to be from other sources including realized short-term gains, long-term gains, to the extent permitted by law, and return of capital. The actual amounts and sources for tax reporting purposes will depend upon the Funds investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The 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.
Distribution Period: April 2022
Distribution Amount per Common Share: $0.0708
The following table sets forth an estimate of the sources of the Funds April distribution and its cumulative distributions paid this fiscal year to date. Amounts are expressed on a per common share basis and as a percentage of the distribution amount.
Eaton Vance Tax-Managed Buy-Write Strategy Fund | ||||||||||||||||
Source |
Current Distribution |
% of Current Distribution |
Cumulative Distributions for the Fiscal Year-to-Date1 |
% of the Cumulative Distributions for the Fiscal Year-to-Date1 |
||||||||||||
Net Investment Income |
$ | 0.0000 | 0.0 | % | $ | 0.0000 | 0.0 | % | ||||||||
Net Realized Short-Term Capital Gains |
$ | 0.0000 | 0.0 | % | $ | 0.0000 | 0.0 | % | ||||||||
Net Realized Long-Term Capital Gains |
$ | 0.0000 | 0.0 | % | $ | 0.0000 | 0.0 | % | ||||||||
Return of Capital or Other Capital Source(s) |
$ | 0.0708 | 100.0 | % | $ | 0.2832 | 100.0 | % | ||||||||
Total per common share |
$ | 0.0708 | 100.0 | % | $ | 0.2832 | 100.0 | % |
1 | The Funds fiscal year is January 1, 2022 to December 31, 2022 |
IMPORTANT DISCLOSURE: You should not draw any conclusions about the Funds investment performance from the amount of this distribution or from the terms of the Funds Plan. The 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 the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Funds 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 the Funds investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The 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.
Set forth in the table below is information relating to the Funds performance based on its net asset value (NAV) for certain periods.
Average annual total return at NAV for the 5-year period ended on March 31, 20221 |
6.52 | % | ||
Annualized current distribution rate expressed as a percentage of NAV as of March 31, 20222 |
7.57 | % | ||
Cumulative total return at NAV for the fiscal year through March 31, 20223 |
-5.19 | % | ||
Cumulative fiscal year to date distribution rate as a percentage of NAV as of March 31, 20224 |
1.89 | % |
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 March 31, 2022. |
2 | The annualized current distribution rate is the cumulative distribution rate annualized as a percentage of the Funds NAV as of March 31, 2022. |
3 | Cumulative total return at NAV is the percentage change in the Funds NAV for the period from the beginning of its fiscal year to March 31, 2022 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 March 31, 2022 measured on the dollar value of distributions in the year-to-date period as a percentage of the Funds NAV as of March 31, 2022. |
If you have any questions regarding this information, please contact your investment advisor or an Eaton Vance Investor Services associate at 1-866-328-6681. Our associates are available to assist you Monday-Friday 8:30 a.m. to 5:30 p.m., Eastern Time.
NOTE: This correspondence is for informational purposes only and should not be relied upon to project the tax character of actual Fund distributions for the 2022 calendar year.
NO ACTION IS REQUIRED ON YOUR PART.
Eaton Vance Tax-Managed Buy-Write Strategy Fund
April 29, 2022
Dear Eaton Vance Fund Shareholder:
This notice provides shareholders of the Eaton Vance Tax-Managed Buy-Write Strategy Fund (NYSE: EXD) with important information concerning the distribution declared in May 2022. You are receiving this notice as a requirement of the Funds managed distribution plan (Plan). The Board of Trustees approved the implementation of the Plan to make monthly 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 May distribution. It is not determinative of the tax character of the Funds distributions for the 2022 calendar year.
The amounts and sources of distributions reported in this notice are estimates, are not being provided for tax reporting purposes and the distribution may later be determined to be from other sources including realized short-term gains, long-term gains, to the extent permitted by law, and return of capital. The actual amounts and sources for tax reporting purposes will depend upon the Funds investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The 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.
Distribution Period: May 2022
Distribution Amount per Common Share: $0.0708
The following table sets forth an estimate of the sources of the Funds May distribution and its cumulative distributions paid this fiscal year to date. Amounts are expressed on a per common share basis and as a percentage of the distribution amount.
Eaton Vance Tax-Managed Buy-Write Strategy Fund | ||||||||||||||||
Source |
Current Distribution |
% of Current Distribution |
Cumulative Distributions for the Fiscal Year-to-Date1 |
% of the Cumulative Distributions for the Fiscal Year-to-Date1 |
||||||||||||
Net Investment Income |
$ | 0.0004 | 0.6 | % | $ | 0.0004 | 0.1 | % | ||||||||
Net Realized Short-Term Capital Gains |
$ | 0.0000 | 0.0 | % | $ | 0.0000 | 0.0 | % | ||||||||
Net Realized Long-Term Capital Gains |
$ | 0.0000 | 0.0 | % | $ | 0.0000 | 0.0 | % | ||||||||
Return of Capital or Other Capital Source(s) |
$ | 0.0704 | 99.4 | % | $ | 0.3536 | 99.9 | % | ||||||||
Total per common share |
$ | 0.0708 | 100.0 | % | $ | 0.3540 | 100.0 | % |
1 | The Funds fiscal year is January 1, 2022 to December 31, 2022 |
IMPORTANT DISCLOSURE: You should not draw any conclusions about the Funds investment performance from the amount of this distribution or from the terms of the Funds Plan. The 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 the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Funds 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 the Funds investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The 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.
Set forth in the table below is information relating to the Funds performance based on its net asset value (NAV) for certain periods.
Average annual total return at NAV for the 5-year period ended on April 30, 20221 |
4.63 | % | ||
Annualized current distribution rate expressed as a percentage of NAV as of April 30, 20222 |
8.22 | % | ||
Cumulative total return at NAV for the fiscal year through April 30, 20223 |
-12.19 | % | ||
Cumulative fiscal year to date distribution rate as a percentage of NAV as of April 30, 20224 |
2.74 | % |
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 April 30, 2022. |
2 | The annualized current distribution rate is the cumulative distribution rate annualized as a percentage of the Funds NAV as of April 30, 2022. |
3 | Cumulative total return at NAV is the percentage change in the Funds NAV for the period from the beginning of its fiscal year to April 30, 2022 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 April 30, 2022 measured on the dollar value of distributions in the year-to-date period as a percentage of the Funds NAV as of April 30, 2022. |
If you have any questions regarding this information, please contact your investment advisor or an Eaton Vance Investor Services associate at 1-866-328-6681. Our associates are available to assist you Monday-Friday 8:30 a.m. to 5:30 p.m., Eastern Time.
NOTE: This correspondence is for informational purposes only and should not be relied upon to project the tax character of actual Fund distributions for the 2022 calendar year.
NO ACTION IS REQUIRED ON YOUR PART.
Eaton Vance Tax-Managed Buy-Write Strategy Fund
May 31, 2022
Dear Eaton Vance Fund Shareholder:
This notice provides shareholders of the Eaton Vance Tax-Managed Buy-Write Strategy Fund (NYSE: EXD) with important information concerning the distribution declared in June 2022. You are receiving this notice as a requirement of the Funds managed distribution plan (Plan). The Board of Trustees approved the implementation of the Plan to make monthly 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 June distribution. It is not determinative of the tax character of the Funds distributions for the 2022 calendar year.
The amounts and sources of distributions reported in this notice are estimates, are not being provided for tax reporting purposes and the distribution may later be determined to be from other sources including realized short-term gains, long-term gains, to the extent permitted by law, and return of capital. The actual amounts and sources for tax reporting purposes will depend upon the Funds investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The 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.
Distribution Period: June 2022
Distribution Amount per Common Share: $0.0708
The following table sets forth an estimate of the sources of the Funds June distribution and its cumulative distributions paid this fiscal year to date. Amounts are expressed on a per common share basis and as a percentage of the distribution amount.
Eaton Vance Tax-Managed Buy-Write Strategy Fund | ||||||||||||||||
Source |
Current Distribution |
% of Current Distribution |
Cumulative Distributions for the Fiscal Year-to-Date1 |
% of the Cumulative Distributions for the Fiscal Year-to-Date1 |
||||||||||||
Net Investment Income |
$ | 0.0000 | 0.0 | % | $ | 0.0000 | 0.0 | % | ||||||||
Net Realized Short-Term Capital Gains |
$ | 0.0000 | 0.0 | % | $ | 0.0000 | 0.0 | % | ||||||||
Net Realized Long-Term Capital Gains |
$ | 0.0000 | 0.0 | % | $ | 0.0000 | 0.0 | % | ||||||||
Return of Capital or Other Capital Source(s) |
$ | 0.0708 | 100.0 | % | $ | 0.4248 | 100.0 | % | ||||||||
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Total per common share |
$ | 0.0708 | 100.0 | % | $ | 0.4248 | 100.0 | % | ||||||||
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1 | The Funds fiscal year is January 1, 2022 to December 31, 2022 |
IMPORTANT DISCLOSURE: You should not draw any conclusions about the Funds investment performance from the amount of this distribution or from the terms of the Funds Plan. The 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 the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Funds 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 the Funds investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The 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.
Set forth in the table below is information relating to the Funds performance based on its net asset value (NAV) for certain periods.
Average annual total return at NAV for the 5-year period ended on May 31, 20221 |
4.20 | % | ||
Annualized current distribution rate expressed as a percentage of NAV as of May 31, 20222 |
8.32 | % | ||
Cumulative total return at NAV for the fiscal year through May 31, 20223 |
-12.61 | % | ||
Cumulative fiscal year to date distribution rate as a percentage of NAV as of May 31, 20224 |
3.47 | % |
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 May 31, 2022. |
2 | The annualized current distribution rate is the cumulative distribution rate annualized as a percentage of the Funds NAV as of May 31, 2022. |
3 | Cumulative total return at NAV is the percentage change in the Funds NAV for the period from the beginning of its fiscal year to May 31, 2022 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 May 31, 2022 measured on the dollar value of distributions in the year-to-date period as a percentage of the Funds NAV as of May 31, 2022. |
If you have any questions regarding this information, please contact your investment advisor or an Eaton Vance Investor Services associate at 1-866-328-6681. Our associates are available to assist you Monday-Friday 8:30 a.m. to 5:30 p.m., Eastern Time.
NOTE: This correspondence is for informational purposes only and should not be relied upon to project the tax character of actual Fund distributions for the 2022 calendar year.
NO ACTION IS REQUIRED ON YOUR PART.
Eaton Vance Tax-Managed Buy-Write Strategy Fund
June 30, 2022