Adams Diversified Equity Fund Declares Distribution and Announces First Half Performance
Adams Diversified Equity Fund declares distribution of $.05 per share from net investment income. First half performance shows a total return of 15.8% on net asset value. Semi-Annual Report to Shareholders expected on July 27, 2023.
Positive
Distribution of $.05 per share from net investment income
First half performance with a total return of 15.8% on net asset value
07/20/2023 - 04:10 PM
BALTIMORE, July 20, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of Adams Diversified Equity Fund, Inc. (NYSE: ADX) today declared a distribution of $.05 per share from net investment income, payable September 1, 2023, to shareholders of record August 18, 2023. This distribution represents the third payment this year toward the Fund’s annual 6% minimum distribution rate commitment, which can be found at adamsfunds.com.
FIRST HALF PERFORMANCE
For the six months ended June 30th, the total return on Adams Diversified Equity’s net asset value, with dividends and capital gains reinvested, was 15.8% . Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category were 16.9% and 15.1% , respectively. The total return on the market price of the Fund’s shares for the period was 16.4% .
For the twelve months ended June 30th, the total return on Adams Diversified Equity’s net asset value, with dividends and capital gains reinvested, was 19.2% . Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category were 19.6% and 18.4% , respectively. The total return on the market price of the Fund’s shares for the period was 17.4% .
The Semi-Annual Report to Shareholders is expected to be available on or about July 27, 2023.
ANNUALIZED COMPARATIVE RETURNS (6/30/2023)
1 Year 3 Year 5 Year Adams Diversified Equity Fund (NAV) 19.2 % 14.6 % 13.0 % Adams Diversified Equity Fund (market price) 17.4 % 14.0 % 12.5 % Morningstar U.S. Large Blend Category 18.4 % 14.0 % 12.3 % S&P 500 19.6 % 14.6 % 11.2 %
The Fund’s net asset value at June 30, 2023, compared with the year earlier, was:
6/30/2023 6/30/2022 Net assets $2,415,114,408 $2,118,629,378 Shares outstanding 120,813,797 117,873,571 Net asset value per share $19.99 $17.97
% of Net Assets Apple Inc. 7.7 % Microsoft Corporation 7.3 % Alphabet Inc. Class A 3.6 % NVIDIA Corporation 2.9 % Amazon.com, Inc. 2.9 % Visa Inc. Class A 1.9 % JPMorgan Chase & Co. 1.9 % Adams Natural Resources Fund, Inc.* 1.9 % UnitedHealth Group Incorporated 1.8 % Meta Platforms, Inc. Class A 1.7 % Total 33.6 %
* Non-controlled affiliated closed-end fund.
% of Net Assets Information Technology 28.2 % Health Care 13.1 % Financials 12.4 % Consumer Discretionary 10.9 % Industrials 8.6 % Communication Services 8.3 % Consumer Staples 6.6 % Energy 4.3 % Materials 2.4 % Real Estate 2.4 % Utilities 2.3 %
About Adams Funds
Since 1929, Adams Funds has consistently helped generations of investors reach their investment goals. Adams Funds is comprised of two closed-end funds, Adams Diversified Equity Fund, Inc. (NYSE: ADX) and Adams Natural Resources Fund, Inc. (NYSE: PEO).The Funds are actively managed by an experienced team with a disciplined approach and have paid dividends for more than 85 years across many market cycles. The Funds are committed to paying an annual distribution rate of 6% or more, providing reliable income to long-term investors. Shares can be purchased through our transfer agent or through a broker. For more information about Adams Funds, please visit: adamsfunds.com.
For further information please contact: adamsfunds.com/about/contact or 800.638.2479
When will the distribution be payable?
The distribution will be payable on September 1, 2023.
What was the first half performance of Adams Diversified Equity Fund?
The first half performance showed a total return of 15.8% on net asset value.
When will the Semi-Annual Report to Shareholders be available?
The Semi-Annual Report to Shareholders is expected to be available on or about July 27, 2023.
Adams Diversified Equity Fund
ADX Rankings
#1919 Ranked by Stock Gains
ADX Stock Data
Industry
Offices of Other Holding Companies
Sector
Management of Companies and Enterprises
Tags
Miscellaneous, Investment Trusts/Mutual Funds
Country
US
City
Baltimore
About ADX
adams funds is composed of two of the country’s oldest closed-end equity funds - adams diversified equity fund, inc. (nyse:adx) and adams natural resources fund, inc. (nyse:peo). as closed-end funds, shares of each fund’s common stock are listed and trade on the new york stock exchange. for over 85 years, both funds have been internally managed and have generated capital growth and income through portfolio performance, dividends, and distributions. the funds are managed by an experienced team employing a disciplined approach to identify investment opportunities and carefully manage risk. our funds have paid dividends for over 80 years and are committed to an annual distribution rate of at least 6%.
