Adams Natural Resources Fund Initiates Share Repurchases Pursuant To Enhanced Discount Management And Liquidity Program
Adams Natural Resources Fund (NYSE: PEO) announced the initiation of share repurchases as part of its enhanced discount management and liquidity program. This program allows buybacks when shares are priced at least 15% below net asset value for 30 consecutive trading days. CEO Mark Stoeckle emphasized that this move aims to enhance shareholder value amidst challenging energy market conditions. The Fund's repurchase strategy also includes a proportional tender offer when the discount exceeds 19% for the same duration. The enhanced program complements the Fund's annual 6% distribution commitment.
- Initiated share repurchases to enhance shareholder value.
- Potential increase in net asset value per share.
- Supports liquidity in share trading.
- None.
BALTIMORE, Dec. 14, 2020 /PRNewswire/ -- Adams Natural Resources Fund, Inc. (NYSE: PEO) announced today that it is engaging in share repurchases pursuant to its previously announced enhanced discount management and liquidity program. Under the enhanced program, share repurchases will be made in the open market when the shares have traded at market prices of at least
Mark Stoeckle, CEO of Adams Natural Resources Fund, said, "This action underscores our commitment to enhancing value for the benefit of shareholders, especially during these challenging times for the energy markets."
The Fund's enhanced repurchase program is implemented under the direction of its portfolio management team. The enhanced repurchase program may increase the Fund's net asset value per share and provides additional liquidity in the trading of shares.
Adams Natural Resources Fund established its enhanced discount management and liquidity program in September 2020, in addition to the Fund's existing annual
For more information about Adams Funds, please visit: adamsfunds.com.
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
Contact:
Lyn Walther
Director of Shareholder Communications
800.638.2479 | investorrelations@adamsfunds.com
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SOURCE Adams Funds
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