BALTIMORE,
Oct. 12, 2017
/PRNewswire/ --
PERFORMANCE
Adams Diversified Equity Fund, Inc. (NYSE: ADX) today
announced the Fund's results for the nine months ended September 30th. The total return on
Adams Diversified Equity's net asset value (NAV), with dividends
and capital gains reinvested, was 17.4%. Comparable figures for the
S&P 500 and the Lipper Large-Cap Core Funds Average were 14.2%
and 13.5%, respectively. The total return on the market price of
the Fund's shares for the period was 20.9%.
For the twelve months ended September 30th, the total return on Adams
Diversified Equity's net asset value, with dividends and capital
gains reinvested, was 21.7%. Comparable figures for the S&P 500
and the Lipper Large-Cap Core Funds Average were 18.6% and 17.7%,
respectively. The total return on the market price of the Fund's
shares for the period was 24.6%.
"We are pleased with our performance over the past nine
and 12 months on both an NAV and market price basis," said
Mark Stoeckle, CEO of Adams Funds.
"The Fund benefited from its investments in several sectors with
large contributions from Technology and Industrials, which enabled
us to exceed the benchmark return by 3.2% and 3.1% over the past
nine and 12 months, respectively."
NET ASSET VALUE
|
9/30/2017
|
9/30/2016
|
Net assets
|
$1,744,456,638
|
$1,517,835,665
|
Shares
outstanding
|
98,684,525
|
97,016,857
|
Net asset value per
share
|
$17.68
|
$15.65
|
The Fund repurchased 741,261 shares of its common stock
during the past nine months at an average price per share of
$14.05 and a weighted average
discount to NAV of 15.3%.
The Third Quarter Report to Shareholders is expected to be
released on or about October 20,
2017.
Since 1929, Adams Funds have 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:
Lyn
Walther
Director of Shareholder Communications
800.638.2479 │ walther@adamsfunds.com
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SOURCE Adams Diversified Equity Fund, Inc.