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 $2.83 per share, totaling $2.98 for 2021, with an annual distribution rate of 15.7%. This includes $0.07 from net investment income and $2.76 from realized capital gains. The Fund marks its 57th consecutive year of capital gains payouts and 86th consecutive year of dividends. The distribution, payable on December 22, 2021, reflects a commitment to provide a minimum of 6% distributions against the Fund's trailing market price.

Positive

• Year-end distribution of $2.83 per share, exceeding the minimum commitment.
• Total distributions for 2021 amount to $2.98, with a significant annual distribution rate of 15.7%.
• 57th consecutive year of capital gains payments and 86th consecutive year of dividend payouts.

Negative

• None.

BALTIMORE, Nov. 11, 2021 /PRNewswire/ -- Adams Diversified Equity Fund, Inc. (NYSE: ADX) declared today a year-end distribution of $2.83 per share. The total distributions by the Fund for 2021 will be $2.98, including the distributions totaling $0.15 per share made prior to today's announcement. The annual distribution rate represented by these distributions is 15.7%.

The year-end distribution consists of the following:

• $0.07 per share from 2021 net investment income; and

• $2.76 per share from net capital gains realized during 2021, of which $0.35 was short-term gain and $2.41 was long-term gain.

This marks the 57^th consecutive year that the Fund has paid out capital gains and the 86^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: "The U.S. equity market continues to be in the longest bull market in history. Coupled with good stock selection, this created significant embedded gains that we realized while positioning for new opportunities.  We are pleased to announce our 2021 distribution rate of 15.7%, which far exceeds our commitment to distribute at least 6% of the Fund's trailing 12-month average month-end market price. While future market conditions are uncertain, we are proud of our long history of providing dividend income and capital gains to our shareholders under all market conditions, and this year's distributions add to that exceptional track record."

The payable date for the distribution is December 22, 2021, the record date is November 22, 2021, and the ex-dividend date is November 19, 2021. 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:
Shareholder Communications
800.638.2479 │ investorrelations@adamsfunds.com

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SOURCE Adams Diversified Equity Fund, Inc.

FAQ

What is the distribution declared by Adams Diversified Equity Fund (ADX) for 2021?

The distribution declared is $2.83 per share, totaling $2.98 for the year.

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

The payable date for the distribution is December 22, 2021.

What is the annual distribution rate of Adams Diversified Equity Fund (ADX) for 2021?

The annual distribution rate for 2021 is 15.7%.

How many years has Adams Diversified Equity Fund paid dividends?

The Fund has paid dividends for 86 consecutive years.

What percentage of the Fund's market price does Adams Diversified Equity Fund commit to distribute?

The Fund commits to distributing at least 6% of its trailing 12-month average month-end market price.