BALTIMORE, April 14, 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 June 1, 2016, to shareholders of record May 13, 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 QUARTER PERFORMANCE
For the three months ended March 31st, the total return on Adams Diversified Equity's net asset value, with dividends and capital gains reinvested, was -0.1%. Comparable figures for the S&P 500 and the Lipper Large-Cap Core Funds Average were 1.4% and 0.2%, respectively. The total return on the market price of the Fund's shares for the period was -1.0%.
For the twelve months ended March 31st, the total return on Adams Diversified Equity's net asset value, with dividends and capital gains reinvested, was -0.4%. Comparable figures for the S&P 500 and the Lipper Large-Cap Core Funds Average were 1.8% and -1.3%, respectively. The total return on the market price of the Fund's shares for the period was -2.6%.
NET ASSET VALUE | ||
3/31/2016 | 3/31/2015 | |
Net assets | $1,461,910,079 | $1,548,832,631 |
Shares outstanding | 97,693,497 | 95,922,372 |
Net asset value per share | $14.96 | $16.15 |
The Fund repurchased 202,800 shares of its common stock during the first quarter at an average price per share of $12.23 and a weighted average discount to NAV of 15.4%.
The First Quarter Report to Shareholders is expected to be released on or about April 22, 2016.
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.
