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Adams Diversified Equity Fund, Inc. declares a distribution of $.05 per share from net investment income, with a total return of 11.2% for the first quarter of 2024, outperforming the S&P 500 and Morningstar U.S. Large Blend category. The Fund's twelve-month total return stands at 32.6%, surpassing major benchmarks.
Adams Diversified Equity Fund, Inc. ha dichiarato una distribuzione di $0.05 per azione dal reddito netto da investimenti, con un rendimento totale dell'11.2% per il primo trimestre del 2024, superando l'S&P 500 e la categoria Morningstar U.S. Large Blend. Il rendimento totale del Fondo su dodici mesi è del 32.6%, oltrepassando i principali benchmark.
Adams Diversified Equity Fund, Inc. declara una distribución de $0.05 por acción proveniente de ingresos netos de inversiones, con un rendimiento total del 11.2% para el primer trimestre de 2024, superando al S&P 500 y a la categoría Morningstar U.S. Large Blend. El retorno total de doce meses del Fondo es del 32.6%, sobrepasando los principales índices de referencia.
Adams Diversified Equity Fund, Inc.는 순 투자 소득으로부터 주당 $0.05의 배당을 선언하며, 2024년 첫 분기에 11.2%의 총 수익률을 달성해 S&P 500과 Morningstar U.S. Large Blend 범주를 상회했습니다. 이 펀드의 12개월 총 수익률은 32.6%로 주요 벤치마크를 뛰어넘었습니다.
Adams Diversified Equity Fund, Inc. annonce une distribution de 0,05 $ par action provenant du revenu net d'investissement, avec un rendement total de 11,2% pour le premier trimestre de 2024, surpassant le S&P 500 et la catégorie Morningstar U.S. Large Blend. Le rendement total sur douze mois du fonds s'élève à 32,6%, dépassant les principaux indices de référence.
Adams Diversified Equity Fund, Inc. kündigt eine Ausschüttung von 0,05 $ pro Aktie aus dem Nettoinvestitionseinkommen an, mit einer Gesamtrendite von 11,2% für das erste Quartal 2024, was den S&P 500 und die Morningstar U.S. Large Blend Kategorie übertrifft. Die Zwölf-Monats-Gesamtrendite des Fonds beträgt 32,6%, und überschreitet damit die wichtigsten Benchmarks.
Positive
The total return on Adams Diversified Equity's net asset value for the first quarter of 2024 was 11.2%.
The total return on the Fund's shares market price for the same period was 10.5%.
For the twelve months ended March 31st, the total return on Adams Diversified Equity's net asset value was 32.6%.
The total return on the market price of the Fund's shares for the twelve-month period was 35.2%.
The Fund's performance exceeded that of the S&P 500 and Morningstar U.S. Large Blend category in both quarterly and annual terms.
Negative
None.
The recent declaration of a $.05 per share distribution by the Adams Diversified Equity Fund underscores the company's commitment to maintaining a 6% minimum distribution rate. When analyzing the significance of this distribution, one must assess the yield in the context of the current income environment. Given that the S&P 500 dividend yield hovers around 1.6%, the Fund's commitment is quite attractive, potentially leading to increased demand for shares among income-focused investors.
The Fund's first quarter performance, showing a total return on net asset value of 11.2%, outpacing the S&P 500 and the Morningstar U.S. Large Blend category, is indicative of effective fund management strategies. Over a 12-month period, this outperformance is even more pronounced, with a net asset value total return of 32.6%, compared to 29.9% for the S&P 500. This suggests that the Fund may be employing a robust investment strategy, potentially involving a mix of growth and value stocks that have been well-positioned to capitalize on market movements.
From the perspective of market dynamics, the outperformance of Adams Diversified Equity Fund, particularly when it comes to the 35.2% total return on the market price of the Fund's shares over twelve months, is reflective of a bullish sentiment among investors. Market price can often deviate from net asset value in closed-end funds based on investor sentiment, liquidity needs and market volatility. This premium on market price might influence the entry point for new investors, potentially impacting the decision-making process for buying into the Fund.
It is also noteworthy that the Fund's performance relative to the Morningstar U.S. Large Blend category suggests a strategic advantage, which could be derived from the Fund's specific asset allocation decisions, sector weighting, or stock selection process. This is an integral point for investors seeking diversified equity funds that consistently outperform their benchmarks and category averages. Retail investors should consider the implications of these performance metrics on the Fund's ability to sustain such distributions and continued growth in net asset value.
BALTIMORE, April 18, 2024 (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 May 31, 2024, to shareholders of record May 17, 2024. This distribution represents the second payment this year toward the Fund’s annual 6% minimum distribution rate commitment, which can be found at adamsfunds.com.
FIRST QUARTER PERFORMANCE
For the three months ended March 31st, the total return on Adams Diversified Equity’s net asset value, with dividends and capital gains reinvested, was 11.2%. Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category were 10.6% and 10.4%, respectively. The total return on the market price of the Fund’s shares for the period was 10.5%.
For the twelve months ended March 31st, the total return on Adams Diversified Equity’s net asset value, with dividends and capital gains reinvested, was 32.6%. Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category were 29.9% and 29.1%, respectively. The total return on the market price of the Fund’s shares for the period was 35.2%.
The First Quarter Report to Shareholders is expected to be available on or about April 24, 2024.
ANNUALIZED COMPARATIVE RETURNS (3/31/2024)
1 Year
3 Year
5 Year
Adams Diversified Equity Fund (NAV)
32.6%
12.9%
15.8%
Adams Diversified Equity Fund (market price)
35.2%
12.6%
15.9%
Morningstar U.S. Large Blend Category
29.1%
10.3%
14.0%
S&P 500
29.9%
11.5%
15.1%
NET ASSET VALUE ANNOUNCED
The Fund’s net asset value at March 31, 2024, compared with the year earlier, was:
3/31/2024
3/31/2023
Net assets
$2,829,484,494
$2,238,417,080
Shares outstanding
124,051,688
120,844,712
Net asset value per share
$22.81
$18.52
TEN LARGEST EQUITY PORTFOLIO HOLDINGS (3/31/2024)
% of Net Assets
Microsoft Corporation
7.9%
Apple Inc.
5.3%
NVIDIA Corporation
5.1%
Amazon.com, Inc.
4.4%
Alphabet Inc. Class A
3.8%
Meta Platforms, Inc. Class A
2.7%
JPMorgan Chase & Co.
2.2%
Visa Inc. Class A
1.9%
UnitedHealth Group Incorporated
1.9%
Adams Natural Resources Fund, Inc.*
1.8%
Total
37.0%
* Non-controlled affiliated closed-end fund.
SECTOR WEIGHTINGS (3/31/2024)
% of Net Assets
Information Technology
29.8%
Financials
12.8%
Health Care
12.3%
Consumer Discretionary
10.8%
Communication Services
9.0%
Industrials
8.3%
Consumer Staples
5.8%
Energy
4.1%
Materials
2.2%
Real Estate
2.2%
Utilities
1.9%
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
FAQ
What is the distribution declared by Adams Diversified Equity Fund, Inc.?
Adams Diversified Equity Fund, Inc. declared a distribution of $.05 per share from net investment income.
When is the distribution payable to shareholders?
The distribution is payable on May 31, 2024.
What was the total return on Adams Diversified Equity's net asset value for the first quarter of 2024?
The total return on the Fund's net asset value for the first quarter of 2024 was 11.2%.
How does the Fund's twelve-month total return compare to the S&P 500?
The Fund's twelve-month total return of 32.6% outperformed the S&P 500, which stood at 29.9%.
What was the total return on the market price of the Fund's shares for the twelve-month period?
The total return on the market price of the Fund's shares for the twelve-month period was 35.2%.
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%.
