Adams Diversified Equity Fund Declares Year-End Distribution; Exceeds Its Annual 6% Minimum Distribution Rate Commitment

Rhea-AI Summary

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.

Positive

• Annual distribution of $1.03 represents a 6.8% yield.
• 56th consecutive year of capital gains payments.
• 85th consecutive year of dividend payments.
• Distribution exceeds the commitment to maintain a 6% minimum distribution rate.

Negative

• None.

BALTIMORE, Nov. 12, 2020 /PRNewswire/ -- Adams Diversified Equity Fund, Inc. (NYSE: ADX) declared today a year-end distribution of $0.88 per share. The total distributions by the Fund for 2020 will be $1.03, including the distributions totaling $0.15 per share made prior to today's announcement. The annual distribution rate represented by these distributions is 6.8%.

The year-end distribution consists of the following:

• $0.07 per share from 2020 net investment income; and
• $0.81 per share from net capital gains realized during 2020, comprised all of long-term gain.

This marks the 56^th consecutive year that the Fund has paid out capital gains and the 85^th consecutive year it has paid out dividends to its shareholders.

Commenting on the year-end distribution, Mark E. Stoeckle, CEO of Adams Diversified Equity Fund, said: "In what has been a challenging year for everyone, we are proud to continue our long history of providing a substantial distribution to our shareholders. We are pleased to announce our 2020 distribution rate of 6.8%, which exceeds our commitment to distribute at least 6% of the Fund's trailing 12-month average month-end market price."

The payable date for the distribution is December 23, 2020, the record date is November 23, 2020, and the ex-dividend date is November 20, 2020. The year-end distribution is payable in stock and/or cash at the option of each shareholder.

Details regarding the annual distribution rates and the Fund's 6% minimum distribution commitment can be found at adamsfunds.com.

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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 year-end distribution announced by Adams Diversified Equity Fund (NYSE: ADX)?

Adams Diversified Equity Fund announced a year-end distribution of $0.88 per share, totaling $1.03 for 2020.

When is the payable date for the year-end distribution of Adams Diversified Equity Fund?

The payable date for the distribution is December 23, 2020.

What is the annual distribution rate for Adams Diversified Equity Fund for 2020?

The annual distribution rate for Adams Diversified Equity Fund for 2020 is 6.8%.

How long has Adams Diversified Equity Fund been paying dividends?

Adams Diversified Equity Fund has paid dividends for 85 consecutive years.

What are the record and ex-dividend dates for the year-end distribution of ADX?

The record date is November 23, 2020, and the ex-dividend date is November 20, 2020.