BALTIMORE, Jan. 12, 2017 /PRNewswire/ -- Adams
Diversified Equity Fund, Inc (NYSE: ADX) announces the Fund's
investment returns for 2016. The Fund will be holding a
conference call on January 26, 2017
at 2:00 pm EST to discuss our 2016
performance. The call may be accessed through the website
www.adamsfunds.com or by calling 1-877-270-2148 and requesting the
Adams Funds conference call.
The total return on the Fund's net asset value for the twelve
months ended December 31, 2016 was
9.2%, with dividends and capital gains reinvested. The comparable
figures for the Lipper Large-Cap Core Mutual Funds Average and the
S&P 500 Index were 10.1% and 12.0%, respectively. The
total return on the Fund's market price for the same period was
6.9%.
The Fund paid $0.99 per share in
income dividends and realized capital gain distributions to
shareholders in 2016, producing an annual distribution rate of
7.8%, exceeding the Fund's annual 6% minimum distribution rate
commitment. Details regarding the annual 6% minimum distribution
rate commitment can be found at www.adamsfunds.com.
The 2016 Annual Report is expected to be released on or about
February 24, 2017.
ANNUALIZED ONE,
THREE AND FIVE-YEAR COMPARATIVE RETURNS (12/31/16)
|
|
|
1
Year
|
3
Year
|
5
Year
|
Adams Diversified
Equity Fund (NAV)
|
9.2%
|
8.3%
|
13.6%
|
Adams Diversified
Equity Fund (market price)
|
6.9%
|
7.0%
|
13.6%
|
Lipper Large-Cap Core
Mutual Funds Average
|
10.1%
|
6.8%
|
13.1%
|
S&P
500
|
12.0%
|
8.9%
|
14.7%
|
NET ASSET VALUE
ANNOUNCED
|
The Fund's net asset
value at the end of 2016, compared with the year earlier,
was:
|
|
|
|
|
12/31/16
|
12/31/15
|
Net assets
|
$1,513,497,727
|
$1,472,144,157
|
Shares
outstanding
|
99,436,824
|
97,913,946
|
Net asset value per
share
|
$15.22
|
$15.04
|
TEN LARGEST EQUITY
PORTFOLIO HOLDINGS (12/31/16)
|
|
|
% of Net
Assets
|
Apple Inc.
|
3.7%
|
Alphabet Inc. (Class
A & Class C)
|
3.7%
|
Microsoft
Corp.
|
3.4%
|
Adams Natural
Resources Fund, Inc.*
|
2.9%
|
Comcast Corp. (Class
A)
|
2.6%
|
Wells Fargo &
Co.
|
2.4%
|
Facebook, Inc. (Class
A)
|
2.3%
|
Amazon.com,
Inc.
|
2.2%
|
Exxon Mobil
Corp.
|
2.1%
|
Boeing Co.
|
2.1%
|
Total
|
27.4%
|
* Non-controlled affiliated closed-end
fund
|
|
SECTOR WEIGHTINGS
(12/31/16)
|
|
|
% of Net
Assets
|
Information
Technology
|
21.3%
|
Financials
|
15.8%
|
Health
Care
|
13.0%
|
Consumer
Discretionary
|
11.4%
|
Industrials
|
10.0%
|
Consumer
Staples
|
8.9%
|
Energy
|
8.3%
|
Utilities
|
2.9%
|
Real
Estate
|
2.3%
|
Materials
|
2.1%
|
Telecommunication
Services
|
1.9%
|
During the fourth quarter we initiated new positions in American
Express, Amgen, Anadarko Petroleum, AvalonBay Communities,
Broadcom, CenterPoint Energy, Priceline Group, and Waters Corp.
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 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: www.adamsfunds.com.
Contact: Nancy J. Floyd
Prue | Director of Shareholder Communications |
prue@adamsfunds.com
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SOURCE Adams Diversified Equity Fund, Inc.