Adams Natural Resources Fund Stock Price, News & Analysis

Mary Chris Jammet has been elected as an independent director of Adams Diversified Equity Fund (NYSE: ADX) and Adams Natural Resources Fund (NYSE: PEO), effective December 10, 2020. With over 30 years of experience in investment management, she previously managed $20 billion in client assets at Legg Mason, Inc. Jammet is recognized as an Audit Committee Financial Expert and holds a CERT Certificate in Cybersecurity Oversight. Adams Funds, established in 1929, is committed to providing an annual distribution rate of 6% or more, focusing on long-term investor income.

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 Natural Resources Fund (NYSE: PEO) reported a -36.8% total return on net asset value (NAV) for the nine months ending September 30, 2020, marginally outperforming its benchmark's -37.4%. Over the past year, the fund's total return was -33.5%, compared to -33.8% for its benchmark. The market price of shares fell -39.1% during the nine months, while a tender offer boosted NAV per share by $0.16. The fund has net assets of $275.79 million and repurchased shares at a significant 17.3% discount.

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.