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) has declared a distribution of $0.05 per share, payable on September 1, 2022, to shareholders of record by August 18, 2022. This is the third payment of the Fund's annual minimum distribution rate of 6%. In the first half of 2022, the Fund reported a total return on net asset value of -19.7%, slightly better than the S&P 500's -20.0%. The total return on market price was -20.5%. As of June 30, 2022, net assets stood at approximately $2.12 billion, with a net asset value per share of $17.97.

Positive

• Declared a distribution of $0.05 per share, reflecting commitment to 6% minimum annual distribution.
• Outperformed S&P 500 in the first half of 2022 by 0.3% on a total return basis.

Negative

• Total return on net asset value for the first half of 2022 was -19.7%.
• Total return on market price of shares was -20.5%.
• Net assets decreased from approximately $2.55 billion in June 2021 to about $2.12 billion in June 2022.
• Net asset value per share dropped from $22.96 in June 2021 to $17.97 in June 2022.

BALTIMORE, July 21, 2022 (GLOBE NEWSWIRE) -- 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, 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 the first half of 2022, the arrival of a bear market offered both challenges and opportunities for our Fund. Our investments in Industrials, Health Care, and Consumer Discretionary were the primary contributors to our relative performance,” said Mark Stoeckle, CEO of Adams Funds.

For the six months ended June 30, 2022, the total return on Adams Diversified Equity’s net asset value, with dividends and capital gains reinvested, was -19.7%. This compares to a -20.0% total return for both the S&P 500 and the Morningstar U.S. Large Blend category. The total return on the market price of the Fund’s shares for the period was -20.5%.

For the twelve months ended June 30, 2022, the total return on Adams Diversified Equity’s net asset value, with dividends and capital gains reinvested, was -9.4%. Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category were -10.6% and -11.6%, respectively. The Fund’s total return on market price for the period was -10.2%.

NET ASSET VALUE

	6/30/2022	6/30/2021
Net assets	$2,118,629,378	$2,548,945,247
Shares outstanding	117,873,571	111,027,121
Net asset value per share	$17.97	$22.96

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

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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:

800.638.2479 │ investorrelations@adamsfunds.com

FAQ

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

Adams Diversified Equity Fund declared a distribution of $0.05 per share, payable on September 1, 2022.

How did Adams Diversified Equity Fund (ADX) perform in the first half of 2022?

In the first half of 2022, the total return on net asset value was -19.7%, while the market price total return was -20.5%.

What is the net asset value per share of Adams Diversified Equity Fund (ADX) as of June 30, 2022?

The net asset value per share of Adams Diversified Equity Fund was $17.97 as of June 30, 2022.

When is the next report for Adams Diversified Equity Fund (ADX) scheduled to be released?

The Semi-Annual Report to Shareholders for Adams Diversified Equity Fund is expected to be released on or about July 27, 2022.

What is the total assets of Adams Diversified Equity Fund (ADX) as of June 30, 2022?

As of June 30, 2022, Adams Diversified Equity Fund had net assets of approximately $2.12 billion.