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

Rhea-AI Summary

BALTIMORE, Nov. 10, 2022—Adams Diversified Equity Fund (NYSE: ADX) announced a year-end distribution of $0.92 per share, totaling $1.07 for 2022. This represents a 6.3% annual distribution rate. The year-end distribution includes $0.06 per share from net investment income and $0.86 from long-term capital gains. This marks the 58th consecutive year of capital gains payouts and the 87th consecutive year of dividends. The payable date is December 21, 2022, with an ex-dividend date of November 18, 2022.

Positive

• Declared year-end distribution of $0.92 per share.
• Total distributions for 2022 amount to $1.07 per share.
• Achieved 6.3% annual distribution rate, exceeding the 6.0% commitment.
• 58th consecutive year of capital gains payouts.
• 87th consecutive year of dividend payments.

Negative

• None.

BALTIMORE, Nov. 10, 2022 (GLOBE NEWSWIRE) -- Adams Diversified Equity Fund, Inc. (NYSE: ADX) declared today a year-end distribution of $0.92 per share. The total distributions by the Fund for 2022 will be $1.07, including the distributions totaling $0.15 per share made prior to today’s announcement. The annual distribution rate represented by these distributions is 6.3%.

The year-end distribution consists of the following:

• $0.06 per share from 2022 net investment income; and
  
  
• $0.86 per share from net capital gains realized during 2022, of which $0.00 was short-term gain and $0.86 was long-term gain.
  

This marks the 58^th consecutive year that the Fund has paid out capital gains and the 87^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 in the market, we are proud to once again exceed our 6.0% distribution commitment to shareholders. While future market conditions are uncertain, this continues 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 21, 2022, the record date is November 21, 2022, and the ex-dividend date is November 18, 2022. 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.

Adams Funds

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.

For further information contact us:  800.638.2479  │ adamsfunds.com/about/contact

FAQ

What is the year-end distribution for Adams Diversified Equity Fund in 2022?

The year-end distribution for 2022 is $0.92 per share.

What is the total distribution amount by Adams Diversified Equity Fund for 2022?

The total distribution for 2022 will be $1.07 per share.

When is the payable date for the year-end distribution of ADX?

The payable date for the year-end distribution is December 21, 2022.

What percentage does the annual distribution rate represent for ADX?

The annual distribution rate is 6.3% for 2022.

How many consecutive years has ADX paid dividends to shareholders?

Adams Diversified Equity Fund has paid dividends for 87 consecutive years.