Adams Natural Resources Fund Declares Distribution and Announces First Quarter Performance

Rhea-AI Summary

The Board of Directors of Adams Natural Resources Fund (NYSE: PEO) declared a distribution of $0.10 per share from net investment income, payable on June 1, 2022. This marks the second payment towards the Fund’s 6% minimum distribution rate commitment for the year. For Q1 ended March 31, 2022, the total return on net asset value was 27.7%, slightly below the benchmark’s 28.3%. The Fund's net assets stood at $597,963,876, and the net asset value per share was $24.42, up from $16.94 a year earlier.

Positive

• Declared a $0.10 per share distribution from net investment income.
• Achieved a 27.7% total return on net asset value for Q1 2022.

Negative

• Total return underperformed its benchmark by 0.6%.

BALTIMORE, April 21, 2022 (GLOBE NEWSWIRE) -- The Board of Directors of Adams Natural Resources Fund, Inc. (NYSE: PEO) today declared a distribution of $.10 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 Natural Resources’ net asset value, with dividends and capital gains reinvested, was 27.7%. This compares to a total return of 28.3% for the Fund’s benchmark, which is comprised of the S&P 500 Energy Sector (74% weight) and the S&P 500 Materials Sector (26% weight), over the same period. Effective January 1, 2022, the Fund’s benchmark weightings were changed from S&P 500 Energy Sector (70%) and S&P 500 Materials Sector (30%) to the current weightings. The total return on the market price of the Fund’s shares for the period was 27.3%.

For the twelve months ended March 31^st, the total return on Adams Natural Resources’ net asset value, with dividends and capital gains reinvested, was 52.1%. Comparable return for the Fund’s benchmark (using weightings as adjusted over the period) was 51.1%. The total return on the market price of the Fund’s shares was 50.1%.

NET ASSET VALUE

	3/31/2022	3/31/2021
Net assets	$597,963,876	$408,043,138
Shares outstanding	24,484,655	24,084,802
Net asset value per share	$24.42	$16.94

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 distribution amount for Adams Natural Resources Fund (PEO) in June 2022?

The distribution amount is $0.10 per share.

When is the distribution for PEO payable?

The distribution is payable on June 1, 2022.

What was the total return for Adams Natural Resources Fund (PEO) in Q1 2022?

The total return on net asset value was 27.7%.

How does the Q1 2022 performance of PEO compare to its benchmark?

PEO underperformed its benchmark by 0.6% in Q1 2022.

What was the net asset value per share for PEO on March 31, 2022?

The net asset value per share was $24.42.