Times are flush for Eaton Vance Corp. The fund manager said that it is upping its quarterly dividend payment by half to 12 cents from 8 cents per share.

Why make the move? The money manager says it has plenty of cash on hand despite the three-year old bear market. It also said that it is taking advantage of the recent change in the federal tax code that cuts taxes in dividends for investors.

The next dividend will be paid on August 11 to shareholders of record as of July 31.  

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