Adams Diversified Equity Fund Announces First-Half Performance And Declares Distribution

Rhea-AI Summary

The Board of Directors of Adams Diversified Equity Fund (NYSE: ADX) declared a distribution of $.05 per share from net investment income, payable on September 1, 2021, to shareholders of record on August 18, 2021. This marks the third payment for the Fund's 6% annual minimum distribution rate. For the first half of 2021, the total return on net asset value was 15.1%, slightly under the S&P 500's 15.3%. The Fund's net assets increased from $1.9 billion in 2020 to $2.5 billion in 2021, with shares outstanding rising to 111 million.

Positive

• The Fund declared a distribution of $.05 per share, fulfilling its 6% annual minimum distribution rate commitment.
• Total return on net asset value for the first half of 2021 was 15.1%, indicating strong performance relative to market trends.
• Net assets increased significantly from $1.9 billion in 2020 to $2.5 billion in 2021.

Negative

• The Fund's total return of 15.1% for the first half of 2021 slightly lagged behind the S&P 500 total return of 15.3%.
• The year-to-date performance does not show significant outperformance compared to industry averages, reflecting a more conservative investment approach.

BALTIMORE, July 15, 2021 /PRNewswire/ -- The Board of Directors of Adams Diversified Equity Fund, Inc. (NYSE: ADX) today declared a distribution of $.05 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

"The economic rebound and strong corporate earnings drove the stock market to record highs. Our investments in Financials, Energy, and Technology were the primary contributors to our performance for the first half of 2021," said Mark Stoeckle, CEO of Adams Funds.

For the six months ended June 30, 2021, the total return on Adams Diversified Equity's net asset value, with dividends and capital gains reinvested, was 15.1%. This compares to a 15.3% total return for the S&P 500 and a 14.9% total return for the Lipper Large-Cap Core Funds Average. The total return on the market price of the Fund's shares for the period was 15.0%.

For the twelve months ended June 30, 2021, the total return on Adams Diversified Equity's net asset value, with dividends and capital gains reinvested, was 39.4%. Comparable figures for the S&P 500 and the Lipper Large-Cap Core Funds Average were 40.8% and 39.7%, respectively. The Fund's total return on market price for the period was 40.6%.

NET ASSET VALUE

	6/30/2021	6/30/2020
Net assets	$2,548,945,247	$1,898,784,630
Shares outstanding	111,027,121	108,731,058
Net asset value per share	$22.96	$17.46

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

What is the recent distribution declared by Adams Diversified Equity Fund (ADX)?

Adams Diversified Equity Fund (ADX) declared a distribution of $.05 per share from net investment income, payable on September 1, 2021.

When is the distribution for Adams Diversified Equity Fund (ADX) payable?

The distribution is payable on September 1, 2021, to shareholders of record on August 18, 2021.

What was the total return of Adams Diversified Equity Fund (ADX) for the first half of 2021?

The total return on Adams Diversified Equity's net asset value for the first half of 2021 was 15.1%.

How do the returns of Adams Diversified Equity Fund (ADX) compare to the S&P 500?

For the same period, the S&P 500 had a total return of 15.3%, slightly outperforming ADX.

What were the net assets of Adams Diversified Equity Fund (ADX) as of June 30, 2021?

As of June 30, 2021, the net assets of Adams Diversified Equity Fund were $2,548,945,247.