BALTIMORE, July 13, 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 September 1, 2016, to shareholders of record
August 12, 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 HALF PERFORMANCE
For the six months ended
June 30th, the total return on Adams
Diversified Equity's net asset value, with dividends and capital
gains reinvested, was 1.2%. Comparable figures for the S&P 500
and the Lipper Large-Cap Core Funds Average were 3.8% and 2.2%,
respectively. The total return on the market price of the
Fund's shares for the period was -0.5%.
For the twelve months ended June
30th, the total return on Adams Diversified Equity's net
asset value, with dividends and capital gains reinvested, was
0.3%. Comparable figures for the S&P 500 and the Lipper
Large-Cap Core Funds Average were 4.0% and 0.7%, respectively. The
total return on the market price of the Fund's shares for the
period was -2.5%.
NET ASSET VALUE
|
6/30/2016
|
6/30/2015
|
|
Net assets
|
$1,470,416,176
|
$1,546,489,828
|
|
Shares
outstanding
|
97,362,723
|
95,542,255
|
|
Net asset value per
share
|
$15.10
|
$16.19
|
The Fund repurchased 533,660 shares of its common stock during
the six-month period for $6.7
million, at an average price per share of $12.51 and a weighted average discount to NAV of
15.6%.
The Semi-Annual Report to Shareholders is expected to be
released on or about July 22,
2016.
The Fund will be holding a conference call on July 28, 2016 at 10:00 AM
EDT to discuss first half 2016 performance. The dial
in number is 1-888-556-4997 and the conference ID code is
264394.
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.