Adams Natural Resources Fund Declares Year-End Distribution; Meets Its Annual 6% Minimum Distribution Rate Commitment

Rhea-AI Summary

On November 12, 2020, Adams Natural Resources Fund (NYSE: PEO) announced a year-end distribution of $0.43 per share, totaling $0.73 for 2020. This includes $0.30 distributed earlier in the year. The annual distribution rate stands at 6.1%, exceeding its commitment to distribute at least 6% of the trailing 12-month average market price. This distribution comprises $0.20 from net investment income and $0.23 from net capital gains. The fund has successfully distributed dividends for 86 consecutive years.

Positive

• Annual distribution of $0.43 per share, totaling $0.73 for 2020.
• Distribution rate of 6.1% exceeds the minimum 6% commitment.
• $0.20 per share from net investment income and $0.23 from capital gains.
• 86 consecutive years of dividend payments.

Negative

• None.

BALTIMORE, Nov. 12, 2020 /PRNewswire/ -- Adams Natural Resources Fund, Inc. (NYSE: PEO) declared today a year-end distribution of $0.43 per share. The total distributions by the Fund for 2020 will be $0.73, including the distributions totaling $0.30 per share made prior to today's announcement. The annual distribution rate represented by these distributions is 6.1%.

The year-end distribution consists of the following:

• $0.20 per share from 2020 net investment income; and
• $0.23 per share from net capital gains realized during 2020, comprised all of long-term gain.

This marks the 69^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 Natural Resources Fund, said: "Despite the challenging year in Energy, 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 6.1%. This exceeds our commitment to distribute least at 6% of the Fund's trailing 12-month average month-end market price to shareholders."

The payable date for the distribution is December 18, 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 declared by Adams Natural Resources Fund in 2020?

The year-end distribution is $0.43 per share, totaling $0.73 for 2020.

What is the annual distribution rate for Adams Natural Resources Fund in 2020?

The annual distribution rate for 2020 is 6.1%.

When will the year-end distribution be payable for Adams Natural Resources Fund?

The year-end distribution will be payable on December 18, 2020.

What are the components of the year-end distribution for 2020?

The distribution consists of $0.20 per share from net investment income and $0.23 per share from net capital gains.

How long has Adams Natural Resources Fund been paying dividends?

The fund has paid dividends for 86 consecutive years.