Adams Diversified Equity Fund Declares Distribution and Announces First Quarter Performance

Rhea-AI Summary

The Board of Directors of Adams Diversified Equity Fund (NYSE: ADX) declared a distribution of $0.05 per share from net investment income, to be paid on June 1, 2022, for shareholders of record as of May 18, 2022. This is the second distribution in 2022, aimed at fulfilling a 6% minimum distribution rate commitment. For Q1 2022, ADX reported a total return on net asset value of -4.2%, outperforming both the S&P 500 and the Morningstar U.S. Large Blend category. The net assets increased to $2.53 billion from $2.35 billion a year ago, with a net asset value per share of $21.29.

Positive

• Declared a $0.05 per share distribution, maintaining a commitment to a 6% annual distribution rate.
• Net assets increased to $2.53 billion, up from $2.35 billion YoY.
• Total return on net asset value for the last twelve months was 17.5%, outperforming both the S&P 500 and Morningstar U.S. Large Blend category.

Negative

• Q1 2022 total return of -4.2%, indicating a decline compared to the previous quarter.

BALTIMORE, April 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 June 1, 2022, to shareholders of record May 18, 2022. This distribution represents the second payment this year toward the Fund’s annual 6% minimum distribution rate commitment, which can be found at adamsfunds.com.

FIRST QUARTER PERFORMANCE

For the three months ended March 31^st, the total return on Adams Diversified Equity’s net asset value, with dividends and capital gains reinvested, was -4.2%. Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category were -4.6% and -5.0%, respectively. The total return on the market price of the Fund’s shares for the period was -4.7%.

For the twelve months ended March 31^st, the total return on Adams Diversified Equity’s net asset value, with dividends and capital gains reinvested, was 17.5%. Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category were 15.7% and 12.9%, respectively. The total return on the market price of the Fund’s shares for the period was 16.8%.

NET ASSET VALUE

	3/31/2022	3/31/2021
Net assets	$2,533,172,745	$2,348,986,742
Shares outstanding	117,872,270	111,027,037
Net asset value per share	$21.29	$21.16

The First Quarter Report to Shareholders is expected to be released on or about April 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

What is the Adams Diversified Equity Fund's recent distribution announcement?

The fund declared a distribution of $0.05 per share from net investment income, payable on June 1, 2022, for shareholders of record on May 18, 2022.

How did Adams Diversified Equity Fund perform in the first quarter of 2022?

In Q1 2022, the total return on the fund's net asset value was -4.2%, while its market price return was -4.7%.

What was the net asset value per share of ADX as of March 31, 2022?

As of March 31, 2022, the net asset value per share of ADX was $21.29.

What were the total returns for Adams Diversified Equity Fund in the past twelve months?

For the twelve months ending March 31, 2022, the total return on net asset value was 17.5%.

When will the next report to shareholders be released by ADX?

The First Quarter Report to Shareholders is expected to be released on or about April 27, 2022.