Adams Diversified Equity Fund Announces $21.29 Issue Price of Shares and Sources of Distribution for Third Quarter Distribution Payable August 30, 2024
Rhea-AI Summary
Adams Diversified Equity Fund (NYSE: ADX) has announced its third quarter distribution details. The issue price is set at $21.29 per share, based on the mean of high and low sales prices on August 21, 2024. The $0.44 distribution, payable on August 30, 2024, is part of the fund's new managed distribution policy, which commits to an 8% annual rate of average net asset value (NAV).
The distribution sources are: 9% from net investment income and 91% from net realized long-term gains. The fund's 5-year average annual total return is 15.2%, with a current annualized distribution rate of 7.4%. ADX has a strong history, having paid dividends for over 89 consecutive years and capital gains for more than 60 years.
Positive
- New managed distribution policy committing to an 8% annual rate of average NAV
- Strong 5-year average annual total return of 15.2%
- Consistent dividend payment history of over 89 consecutive years
- Capital gains distributions for more than 60 consecutive years
Negative
- None.
News Market Reaction – ADX
On the day this news was published, ADX gained 0.66%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
BALTIMORE, Aug. 22, 2024 (GLOBE NEWSWIRE) -- Adams Diversified Equity Fund, Inc. (NYSE: ADX) has determined that
The shares of common stock will be issued in connection with payment of the
The Fund’s estimated sources for the distribution to be paid on August 30, 2024 and for all distributions declared in 2024 to date are as follows:
| Distribution per Share | Net Investment Income | Net Realized Short-Term Gains | Net Realized Long-Term Gains | Return of Capital | ||
| August 30, 2024 | ||||||
| YTD 2024 | ||||||
Fund Performance and Distribution Rate Information:
| Average Annual Total Return (on NAV for the 5- year period ended on July 31, 2024)1 | Annualized Current Distribution Rate (expressed as a percentage of NAV as of July 31, 2024) 2 | Cumulative Total Return (on NAV for the fiscal year through July 31, 2024) 1 | Cumulative Fiscal Year Distribution Rate (as a percentage of NAV as of July 31, 2024) 3 | ||||
| 7.4 | % | 15.9 | % | 2.3 | % | ||
1 Total return is calculated assuming a purchase of a Fund share at the beginning of the period and a sale on the last day of the period at reported net asset value per share, excluding any brokerage commissions. Distributions are assumed to be reinvested at the price received in the Fund’s dividend reinvestment plan. For periods greater than one year, returns are presented on an annualized basis.
2 The annualized Current Distribution Rate is the current quarter’s distribution rate per share annualized and expressed as a percentage of the Fund’s NAV per share as of July 31, 2024.
3 The Cumulative Fiscal Year Distribution Rate is the distributions per share for the fiscal year period (January 1, 2024 to July 31, 2024), expressed as a percentage of the Fund’s NAV per share as of July 31, 2024.
You should not draw any conclusions about the Fund's investment performance from the amount of the current distribution or from the terms of the Fund's Distribution Policy. The amounts and sources of distributions reported herein are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.
The Fund has paid out capital gains to its shareholders for more than 60 consecutive years and has paid dividends for more than 89 consecutive years.
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
For further information please contact:
adamsfunds.com/about/contact
800.638.2479
FAQ
What is the issue price for ADX's third quarter distribution in 2024?
When will ADX pay its third quarter distribution for 2024?
What is ADX's new managed distribution policy?
What are the sources of ADX's third quarter distribution for 2024?
What is ADX's 5-year average annual total return as of July 31, 2024?
