Adams Diversified Equity Fund Declares Distribution And Announces First Quarter Performance

BALTIMORE, April 9, 2020 /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, 2020, to shareholders of record May 18, 2020. This distribution represents the second payment this year toward the Fund's annual 6% minimum distribution rate commitment, which can be found at adamsfunds.com.  The Fund's distribution rate in 2019 was 9.6%.

FIRST QUARTER PERFORMANCE

"The steep, broad-based market decline in the first quarter impacted all sectors in the S&P 500. Our Fund outperformed the market, although it was still down -18.1%. Our investments in Consumer Discretionary, Industrials, and Utilities were the biggest contributors to our relative performance," said Mark Stoeckle, CEO of Adams Funds. For the three months ended March 31^st, the total return on Adams Diversified Equity's net asset value, with dividends and capital gains reinvested, was -18.1%. Comparable figures for the S&P 500 and the Lipper Large-Cap Core Funds Average were -19.6% and -20.1%, respectively. The total return on the market price of the Fund's shares for the period was -19.9%.

For the twelve months ended March 31^st, the total return on Adams Diversified Equity's net asset value, with dividends and capital gains reinvested, was -5.4%. Comparable figures for the S&P 500 and the Lipper Large-Cap Core Funds Average were -7.0% and -8.3%, respectively. The total return on the market price of the Fund's shares for the period was -4.7%.

The Fund repurchased 114,792 shares of its common stock during the first quarter at an average price per share of $11.57 and a weighted average discount to NAV of 15.1%.

The First Quarter Report to Shareholders is expected to be released on or about April 16, 2020.

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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: adamsfunds.com.

Contact:
Lyn Walther │Director of Shareholder Communications
800.638.2479 │ [email protected]

SOURCE Adams Diversified Equity Fund, Inc.

Related Links

http://adamsfunds.com

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