Distribution Date and Distribution Rate Change Announced for Eaton Vance Short Duration Diversified Income Fund

BOSTON, April 3, 2017 /PRNewswire/ -- The Eaton Vance closed-end fund listed below (the "Fund") announced its monthly distribution today, including a reduction to its distribution amount per share as detailed below. 

The Fund currently makes distributions in accordance with a managed distribution plan. Under the managed distribution plan, the Fund issues a notice to shareholders and a press release containing information about the amount and sources of the distribution and other related information on payment date of the distribution.  The Fund's distributions in any period may be more or less than the net return earned by the Fund on its investments, and therefore should not be used as a measure of performance or confused with "yield" or "income." Distributions in excess of Fund returns will cause its NAV to erode. Investors should not draw any conclusions about the Fund's investment performance from the amount of its distribution or from the terms of its managed distribution plan.  The Fund's Board may amend or terminate the managed distribution plan at any time without prior notice to Fund shareholders.

The Distribution Rate at Market Price is based on the Fund's most recent regular distribution per share (annualized) divided by the Fund's market price at the end of the period. Fund distributions may be affected by numerous factors, including changes in Fund performance, the cost of financing to employ leverage, portfolio holdings, realized and projected returns, and other factors. There can be no assurance that an unanticipated change in market conditions or other unforeseen factors will not result in a change in the Fund's distributions at a future time.

A portion of the distributions may be comprised of amounts from sources other than net investment income.  If that is the case, you will be notified in writing.  Further information will be available prior to the payment date at funds.eatonvance.com.  The final determination of tax characteristics of the Fund's distributions will occur after the end of the year, at which time it will be reported to the shareholders.

The Fund is managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp. (NYSE: EV) which is a leading global asset manager whose history dates to 1924. With offices in North America, Europe, Asia and Australia, Eaton Vance and its affiliates managed $363.7 billion in assets as of January 31, 2017, offering individuals and institutions a broad array of investment strategies and wealth management solutions. For more information, visit eatonvance.com.

Shares of closed-end funds often trade at a discount from their NAV. The market price of Fund shares may vary from NAV based on factors affecting the supply and demand for shares, such as Fund distribution rates relative to similar investments, investors' expectations for future distribution changes, the clarity of the Fund's investment strategy and future return expectations, and investors' confidence in the underlying markets in which the Fund invests. Fund shares are subject to investment risk, including possible loss of principal invested. No Fund is a complete investment program and you may lose money investing in the Fund. An investment in the Fund may not be appropriate for all investors. Before investing, prospective investors should consider carefully the Fund's investment objective, risks, charges and expenses.

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SOURCE Eaton Vance Management