BALTIMORE, April 21, 2017 /PRNewswire/ -- The Board of
Directors of Adams Natural Resources Fund, Inc. (NYSE: PEO) today
declared a distribution of $.10 per
share from net investment income, payable June 1, 2017, to shareholders of record
May 12, 2017. This distribution
represents the second payment this year toward the Fund's annual 6%
minimum distribution rate commitment. In 2016, the Fund paid out
distributions at an annual distribution rate of 6.1%. 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 Natural
Resources' net asset value, with dividends and capital gains
reinvested, was -3.4%. Comparable figures for the Dow Jones U.S.
Oil & Gas Index, the Dow Jones U.S. Basic Materials Index, and
the Lipper Global Natural Resources Funds Average were -6.6%, 7.6%,
and -1.3%, respectively, while the blended Energy & Materials
benchmark finished the quarter -3.8%. The total return on the
market price of the Fund's shares was -3.2%.
"Energy stock performance was challenged this quarter due in
part to a 5.8% decline in the price of crude oil. PEO's diversified
investment strategy, which incorporates investing in the Basic
Materials sector, helped to offset the broad weakness in Energy.
Our chemical stock holdings performed particularly well during the
quarter," said Mark Stoeckle, CEO of
Adams Funds.
For the twelve months ended March
31st, the total return on Adams Natural
Resources' net asset value, with dividends and capital gains
reinvested, was 14.7%. Comparable figures for the Dow Jones U.S.
Oil & Gas Index, the Dow Jones U.S. Basic Materials Index, and
the Lipper Global Natural Resources Funds Average were 13.9%,
24.1%, and 17.0%, respectively, while the blended Energy &
Materials benchmark was 15.9%. The total return on the market price
of the Fund's shares for the period was 14.1%.
NET ASSET VALUE
|
|
|
|
3/31/2017
|
3/31/2016
|
|
Net assets
|
$659,362,650
|
$597,530,566
|
|
Shares
outstanding
|
28,551,804
|
28,092,821
|
|
Net asset value per
share
|
$23.09
|
$21.27
|
The First Quarter Report to Shareholders is expected to be
released on or about April 28,
2017.
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 I Director of Shareholder Communications I 410.752.5900
| prue@adamsfunds.com
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SOURCE Adams Natural Resources Fund, Inc.