• Adams Diversified Equity Fund Declares Distribution and Announces First Half Performance

    来源: Nasdaq GlobeNewswire / 18 7月 2024 16:21:55   America/New_York

    BALTIMORE, July 18, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Adams Diversified Equity Fund, Inc. (NYSE: ADX) today declared a distribution of $.44 per share, payable August 30, 2024 in newly issued shares unless shareholders elect to receive cash, to shareholders of record August 5, 2024. This distribution represents the initial payment under the Fund’s Managed Distribution Policy to pay at least 2% of average net asset value each quarter. You should not draw any conclusions about the Fund’s investment performance from the amount of the current distribution or from the terms of the Fund’s MDP.

    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 15.8%. Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category were 15.3% and 14.1%, respectively. The total return on the market price of the Fund’s shares for the period was 22.0%.

    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 27.5%. Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category were 24.6% and 23.2%, respectively. The total return on the market price of the Fund’s shares for the period was 37.6%.

    The Semi-Annual Report to Shareholders is expected to be available on or about July 24, 2024.


    ANNUALIZED COMPARATIVE RETURNS (6/30/2024)
        
     1 Year3 Year5 Year
    Adams Diversified Equity Fund (NAV)27.5%11.2%15.6%
    Adams Diversified Equity Fund (market price)37.6%13.2%16.6%
    Morningstar U.S. Large Blend Category23.2%8.5%13.8%
    S&P 50024.6%10.0%15.1%
        


    NET ASSET VALUE ANNOUNCED

    The Fund’s net asset value at June 30, 2024, compared with the year earlier, was:

     6/30/20246/30/2023
    Net assets$2,938,344,145$2,415,114,408
    Shares outstanding124,051,735120,813,797
    Net asset value per share$23.69$19.99
       


    TEN LARGEST EQUITY PORTFOLIO HOLDINGS (6/30/2024)
     
     % of Net Assets
    Microsoft Corporation8.0%
    Apple Inc.7.2%
    NVIDIA Corporation6.8%
    Amazon.com, Inc.4.5%
    Alphabet Inc. Class A4.4%
    Meta Platforms, Inc. Class A2.6%
    JPMorgan Chase & Co.2.1%
    Eli Lilly and Company2.0%
    Adams Natural Resources Fund, Inc.*1.8%
    Visa Inc. Class A1.7%
    Total41.1%
      
    * Non-controlled affiliated closed-end fund.
      


    SECTOR WEIGHTINGS (6/30/2024)
      
     % of Net Assets
    Information Technology32.6%
    Financials12.0%
    Health Care11.8%
    Consumer Discretionary10.3%
    Communication Services9.5%
    Industrials8.0%
    Consumer Staples5.7%
    Energy3.9%
    Materials2.1%
    Real Estate2.0%
    Utilities1.9%
      


    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 85 years across many market cycles. The Funds are committed to paying a minimum annual distribution rate of 8% of NAV 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: adamsfunds.com. For further information please contact: adamsfunds.com/about/contact or 800.638.2479


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