Adams Diversified Equity Fund Stock Price, News & Analysis

Adams Diversified Equity Fund (NYSE: ADX) announced a year-end distribution of $0.88 per share, totaling $1.03 for 2020, achieving a 6.8% annual distribution rate. This distribution includes $0.07 from net investment income and $0.81 from capital gains, marking the 56th consecutive year of capital gains payments and the 85th year of dividends. The payable date is December 23, 2020, with a record date of November 23, 2020, and an ex-dividend date of November 20, 2020.

On November 12, 2020, Adams Natural Resources Fund (NYSE: PEO) announced a year-end distribution of $0.43 per share, totaling $0.73 for 2020. This includes $0.30 distributed earlier in the year. The annual distribution rate stands at 6.1%, exceeding its commitment to distribute at least 6% of the trailing 12-month average market price. This distribution comprises $0.20 from net investment income and $0.23 from net capital gains. The fund has successfully distributed dividends for 86 consecutive years.

Adams Diversified Equity Fund (NYSE: ADX) announced its financial results for the nine months ending September 30, 2020. The fund achieved a 6.4% total return on net asset value, outperforming the S&P 500's 5.6% and Lipper's 4.0%. For the twelve months, the fund's total return was 15.2%, matching the S&P 500 but exceeding Lipper's 13.0%. The market price return was 3.8% and 11.8%, respectively. The fund’s net assets rose to $2.05 billion, and shares repurchased totaled 135,192 at an average price of $11.64.

On September 22, 2020, Adams Diversified Equity Fund (NYSE: ADX) and Adams Natural Resources Fund (NYSE: PEO) announced their unanimous decision to adopt the Maryland Control Share Acquisition Act (MCSAA). This act aims to safeguard shareholder interests by restricting the voting rights of large investors acquiring more than 10% of shares, unless approved by other shareholders. Additionally, both funds initiated an enhanced discount management program, which includes share repurchases when discounts to net asset value exceed 15% or 19% over specified trading days.

On September 10, 2020, Adams Natural Resources Fund (NYSE: PEO) announced the conclusion of its tender offer to buy back 5,955,676 common shares at $11.95 each, representing a 95% rate of its $12.58 net asset value (NAV) as of September 4, 2020. A total of 9,414,379 shares were tendered, surpassing the offer amount, which led to a pro rata purchase of 63.26% of shares. All accepted shares will be promptly paid for, while unaccepted shares will be returned to shareholders.

Adams Natural Resources Fund (NYSE: PEO) announced preliminary results for its tender offer to purchase up to 5,955,676 common shares at $11.95, reflecting 95% of the $12.58 NAV as of September 4, 2020. A total of 9,454,445 shares were validly tendered, exceeding the offer amount, leading to a pro rata purchase of shares. PEO expects to accept all shares subject to the offer, with payment processing to follow. The final proration factor will be confirmed post the guaranteed delivery period, ensuring timely distribution of funds for shares accepted.

Adams Natural Resources Fund (NYSE: PEO) has announced a tender offer to acquire up to 20% of its outstanding shares for cash, at 95% of the Fund's net asset value as of the offer's expiration. The offer starts on August 7, 2020, and ends on September 4, 2020, unless extended. Stockholders may choose to participate, and those who do not will see an increase in their equity interest proportionate to the shares bought. CEO Mark Stoeckle expressed that this tender offer offers shareholders a better opportunity compared to previous offers.

On July 16, 2020, Adams Diversified Equity Fund (NYSE: ADX) announced a distribution of $0.05 per share from net investment income, payable on September 1, 2020, to shareholders of record on August 18, 2020. This marks the Fund's third distribution in 2020, maintaining a 6% minimum annual distribution rate. For the first half of 2020, the Fund's total return on net asset value was -2.0%, outperforming the S&P 500's -3.1%, while the market price return was -4.8%. As of June 30, 2020, the Fund's net assets were approximately $1.9 billion.

The Board of Directors of Adams Natural Resources Fund (NYSE: PEO) has reviewed a recent tender offer from Bulldog Investors and Ancora Advisors, deeming it not in the long-term interests of shareholders. The Board argues the offer price is close to current market value, potentially resulting in lower returns for shareholders. It claims the Group aims to buy shares cheaply to gain control and possibly liquidate the Fund, jeopardizing steady income streams for investors. The Fund boasts a 6% minimum annual distribution and a 5-Star Morningstar rating, emphasizing its benefits for long-term stakeholders.