Adams Natural Resources Fund Announces First-Half Performance And Declares Distribution

The Board of Directors of Adams Natural Resources Fund (NYSE: PEO) declared a distribution of $0.10 per share, payable on September 1, 2021, to shareholders of record on August 18, 2021.

Rhea-AI Summary

The Board of Directors of Adams Natural Resources Fund (NYSE: PEO) declared a distribution of $0.10 per share, payable on September 1, 2021, to shareholders of record on August 18, 2021. This marks the third payment in line with the Fund's 6% minimum distribution rate commitment for the year. For the first half of 2021, the Fund's total return on net asset value reached 36.3%, matching its benchmark. The Fund's net assets rose to $445.8 million as of June 30, 2021, with a net asset value per share of $18.51.

Positive

• Declared a distribution of $0.10 per share.
• Third payment this year towards 6% minimum distribution commitment.
• Total return on net asset value increased by 36.3% in the first half of 2021.
• Net assets grew to $445.8 million from $386.8 million year-over-year.
• Net asset value per share increased to $18.51 from $12.99.

Negative

• Shares outstanding decreased from 29,778,381 to 24,084,879.

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BALTIMORE, July 15, 2021 /PRNewswire/ -- The Board of Directors of Adams Natural Resources Fund, Inc. (NYSE: PEO) today declared a distribution of $.10 per share from net investment income payable September 1, 2021, to shareholders of record August 18, 2021.  This represents the third payment this year toward the Fund's annual 6% minimum distribution rate commitment.  Details regarding the Fund's annual 6% minimum distribution rate commitment can be found at adamsfunds.com.

FIRST-HALF PERFORMANCE

"Energy has been the best performing sector in the S&P 500 in the first six months of 2021, outperforming by more than 30%. Our Fund, with exposure to both Energy and Materials, rose 36.3%, in line with its benchmark," said Mark Stoeckle, CEO of Adams Funds.

For the six months ended June 30, 2021, the total return on Adams Natural Resources' net asset value, with dividends and capital gains reinvested, was 36.3%. This compares to a total return of 36.3% for the Fund's benchmark, which is comprised of the S&P 500 Energy Sector (70% weight) and the S&P 500 Materials Sector (30% weight) over the same period. Effective January 1, 2021, the Fund's benchmark weightings were changed from S&P 500 Energy Sector (80%) and S&P 500 Materials Sector (20%) to the current weightings. The Fund's total return on the market price was 44.4%.

For the twelve months ended June 30, 2021, the total return on Adams Natural Resources' net asset value, with dividends and capital gains reinvested, was 50.9%.  Comparable return for the Fund's benchmark (using weightings as adjusted over the period) was 49.6%.  The Fund's total return on market price was 51.1%.

NET ASSET VALUE

	6/30/2021	6/30/2020
Net assets	$445,829,119	$386,756,707
Shares outstanding	24,084,879	29,778,381
Net asset value per share	$18.51	$12.99

The Semi-Annual Report to Shareholders is expected to be released on or about July 21, 2021.

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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 80 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.

Contact:
Lyn Walther
Director of Shareholder Communications
800.638.2479 │ investorrelations@adamsfunds.com

 

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SOURCE Adams Funds

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the recent distribution declared by Adams Natural Resources Fund (NYSE: PEO)?

Adams Natural Resources Fund declared a distribution of $0.10 per share, payable on September 1, 2021.

When is the record date for the distribution payment of Adams Natural Resources Fund?

The record date for the distribution payment is August 18, 2021.

What was the total return on Adams Natural Resources Fund's net asset value for the first half of 2021?

The total return for the first half of 2021 was 36.3%.

How much did the net assets of Adams Natural Resources Fund increase by compared to last year?

Net assets increased from $386.8 million to $445.8 million year-over-year.

What is the net asset value per share for Adams Natural Resources Fund as of June 30, 2021?

The net asset value per share is $18.51 as of June 30, 2021.