Visual refresh supporting Google’s Material Design principles, including a flatter look, bolder colors, and improved typography
Customizable quick notes
Long press to add or remove quick note options
Simpler navigation drawer with direct access to shortcuts
Improved note editor and note view
Cleaner layout and controls
Support for renaming and deleting tags
Numerous bug fixes and enhancements
As for the material UI, Evernote got it mostly right, I think. The app had a FAB before, but the styling was all wrong. Now it looks as it should and there's a cool animation when you tap it to add a new note. The navigation drawer has also been revamped to material-ish specifications. The status bar and hero color are present as well. It doesn't have as many touch animations as I would have expected, though.
The update should be live for everyone, but just in case, you can get it on APK Mirror.