• Adams Diversified Equity Fund Declares Distribution and Announces First Quarter Performance

    Источник: Nasdaq GlobeNewswire / 18 апр 2024 19:34:17   America/New_York

    BALTIMORE, April 18, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Adams Diversified Equity Fund, Inc. (NYSE: ADX) today declared a distribution of $.05 per share from net investment income, payable May 31, 2024, to shareholders of record May 17, 2024. 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 31st, the total return on Adams Diversified Equity’s net asset value, with dividends and capital gains reinvested, was 11.2%. Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category were 10.6% and 10.4%, respectively. The total return on the market price of the Fund’s shares for the period was 10.5%.

    For the twelve months ended March 31st, the total return on Adams Diversified Equity’s net asset value, with dividends and capital gains reinvested, was 32.6%. Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category were 29.9% and 29.1%, respectively. The total return on the market price of the Fund’s shares for the period was 35.2%.

    The First Quarter Report to Shareholders is expected to be available on or about April 24, 2024.


    ANNUALIZED COMPARATIVE RETURNS (3/31/2024)

     1 Year3 Year5 Year
    Adams Diversified Equity Fund  (NAV)32.6%12.9%15.8%
    Adams Diversified Equity Fund (market price)35.2%12.6%15.9%
    Morningstar U.S. Large Blend Category29.1%10.3%14.0%
    S&P 50029.9%11.5%15.1%


    NET ASSET VALUE ANNOUNCED

    The Fund’s net asset value at March 31, 2024, compared with the year earlier, was:

     3/31/20243/31/2023
    Net assets$2,829,484,494$2,238,417,080
    Shares outstanding124,051,688120,844,712
    Net asset value per share$22.81$18.52


    TEN LARGEST EQUITY PORTFOLIO HOLDINGS (3/31/2024)

     % of Net Assets
    Microsoft Corporation7.9%
    Apple Inc. 5.3%
    NVIDIA Corporation5.1%
    Amazon.com, Inc.4.4%
    Alphabet Inc. Class A3.8%
    Meta Platforms, Inc. Class A2.7%
    JPMorgan Chase & Co.2.2%
    Visa Inc. Class A1.9%
    UnitedHealth Group Incorporated1.9%
    Adams Natural Resources Fund, Inc.*1.8%
    Total37.0%
      

    * Non-controlled affiliated closed-end fund.


    SECTOR WEIGHTINGS (3/31/2024)

     % of Net Assets
    Information Technology29.8%
    Financials12.8%
    Health Care12.3%
    Consumer Discretionary10.8%
    Communication Services9.0%
    Industrials8.3%
    Consumer Staples5.8%
    Energy4.1%
    Materials2.2%
    Real Estate2.2%
    Utilities1.9%


    About 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 85 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 please contact: adamsfunds.com/about/contact or 800.638.2479


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