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, 2022.

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, 2022. This is the third payment towards the Fund's commitment to a 6% minimum annual distribution rate. Performance for the first half of 2022 showed a total return of 17.9% for net asset value, slightly below the benchmark's 18.9%. The market price return for the same period was 19.0%. As of June 30, 2022, net assets totaled $549.58 million, with a net asset value per share of $22.45, up from $18.51 a year prior.

Positive

• Declared $0.10 per share distribution, maintaining a commitment to a 6% minimum annual distribution rate.
• Achieved a total return of 19.0% on market price for the first half of 2022.

Negative

• Total return of 17.9% on net asset value underperformed against the benchmark of 18.9%.

Argus Session date unavailable

-0.51% session move Open Argus

Details

News Market Reaction – PEO

The recorded move for PEO in the trading session of this news was -0.51%.

Data tracked by StockTitan Argus. Session date unavailable.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

BALTIMORE, July 21, 2022 (GLOBE NEWSWIRE) -- 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, 2022, to shareholders of record August 18, 2022. 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

“In a period where most asset classes and equity sectors declined, Energy was the exception and was the only one in the S&P 500 to advance – providing positive return in an overall bear market,” said Mark Stoeckle, CEO of Adams Funds.

For the six months ended June 30, 2022, the total return on Adams Natural Resources’ net asset value, with dividends and capital gains reinvested, was 17.9%. This compares to a total return of 18.9% for the Fund’s benchmark, which is comprised of the S&P 500 Energy Sector (74% weight) and the S&P 500 Materials Sector (26% weight) over the same period. Effective January 1, 2022, the Fund’s benchmark weightings were changed from S&P 500 Energy Sector (70%) and S&P 500 Materials Sector (30%) to the current weightings. The total return on the market price of the Fund’s shares for the period was 19.0%.

For the twelve months ended June 30, 2022, the total return on Adams Natural Resources’ net asset value, with dividends and capital gains reinvested, was 27.7%. Comparable return for the Fund’s benchmark (using weightings as adjusted over the period) was 27.8%. The Fund’s total return on market price was 26.6%.

NET ASSET VALUE

	6/30/2022	6/30/2021
Net assets	$549,582,157	$445,829,119
Shares outstanding	24,485,265	24,084,879
Net asset value per share	$22.45	$18.51

The Semi-Annual Report to Shareholders is expected to be released on or about July 27, 2022.

###

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:

800.638.2479 │ investorrelations@adamsfunds.com 

FAQ

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

What is the recent dividend distribution for Adams Natural Resources Fund (PEO)?

Adams Natural Resources Fund declared a distribution of $0.10 per share, payable on September 1, 2022.

How did PEO perform in the first half of 2022?

The fund achieved a total return of 17.9% on net asset value for the first half of 2022.

What were the net assets of Adams Natural Resources Fund as of June 30, 2022?

The net assets totaled $549,582,157 as of June 30, 2022.

What is the net asset value per share for PEO as of June 30, 2022?

The net asset value per share was $22.45 as of June 30, 2022.

What is the benchmark performance comparison for Adams Natural Resources Fund (PEO)?

The benchmark returned 18.9% while the fund's net asset value return was 17.9%.