BALTIMORE, April 14, 2016 /PRNewswire/ -- 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 June 1, 2016, to shareholders of record
May 13, 2016. This distribution
represents the second payment this year toward the Fund's annual 6%
minimum distribution rate commitment. In 2015, the Fund paid
out distributions at an annual distribution rate of 6.8%.
Details regarding the Fund's annual 6% minimum distribution rate
commitment can be found at www.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 -0.1%. Comparable figures for the S&P 500 and
the Lipper Large-Cap Core Funds Average were 1.4% and 0.2%,
respectively. The total return on the market price of the
Fund's shares for the period was -1.0%.
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 -0.4%. Comparable figures for the S&P 500
and the Lipper Large-Cap Core Funds Average were 1.8% and -1.3%,
respectively. The total return on the market price of the Fund's
shares for the period was -2.6%.
NET ASSET
VALUE
|
|
3/31/2016
|
3/31/2015
|
Net assets
|
$1,461,910,079
|
$1,548,832,631
|
Shares
outstanding
|
97,693,497
|
95,922,372
|
Net asset value per
share
|
$14.96
|
$16.15
|
The Fund repurchased 202,800 shares of its common stock during
the first quarter at an average price per share of $12.23 and a weighted average discount to NAV of
15.4%.
The First Quarter Report to Shareholders is expected to be
released on or about April 22,
2016.
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
Executive Vice President
Director of Shareholder Communications
410.752.5900 | prue@adamsfunds.com
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SOURCE Adams Diversified Equity Fund, Inc.