Eaton Vance Plans Buyback

Eaton Vance(EV Quote - Cramer on EV - Stock Picks), a Boston-based investment management firm, said Wednesday that its board approved the repurchase of up to 8 million shares of non-voting common stock.

Under the previous April 14, 2005 stock repurchase program, the company bought back about 6.8 million shares.

Eaton Vance also declared a quarterly dividend of 10 cents a share on its common stock, payable Aug. 14 to shareholders of record on July 31.

Shares of Eaton were down 37 cents, or 1.5%, at $24.80 Wednesday.