BALTIMORE, Jan. 12, 2017 /PRNewswire/ -- Adams Diversified Equity Fund, Inc (NYSE: ADX) announces the Fund's investment returns for 2016. The Fund will be holding a conference call on January 26, 2017 at 2:00 pm EST to discuss our 2016 performance. The call may be accessed through the website www.adamsfunds.com or by calling 1-877-270-2148 and requesting the Adams Funds conference call.
The total return on the Fund's net asset value for the twelve months ended December 31, 2016 was 9.2%, with dividends and capital gains reinvested. The comparable figures for the Lipper Large-Cap Core Mutual Funds Average and the S&P 500 Index were 10.1% and 12.0%, respectively. The total return on the Fund's market price for the same period was 6.9%.
The Fund paid $0.99 per share in income dividends and realized capital gain distributions to shareholders in 2016, producing an annual distribution rate of 7.8%, exceeding the Fund's annual 6% minimum distribution rate commitment. Details regarding the annual 6% minimum distribution rate commitment can be found at www.adamsfunds.com.
The 2016 Annual Report is expected to be released on or about February 24, 2017.
ANNUALIZED ONE, THREE AND FIVE-YEAR COMPARATIVE RETURNS (12/31/16) | |||
1 Year | 3 Year | 5 Year | |
Adams Diversified Equity Fund (NAV) | 9.2% | 8.3% | 13.6% |
Adams Diversified Equity Fund (market price) | 6.9% | 7.0% | 13.6% |
Lipper Large-Cap Core Mutual Funds Average | 10.1% | 6.8% | 13.1% |
S&P 500 | 12.0% | 8.9% | 14.7% |
NET ASSET VALUE ANNOUNCED | ||
The Fund's net asset value at the end of 2016, compared with the year earlier, was: | ||
12/31/16 | 12/31/15 | |
Net assets | $1,513,497,727 | $1,472,144,157 |
Shares outstanding | 99,436,824 | 97,913,946 |
Net asset value per share | $15.22 | $15.04 |
TEN LARGEST EQUITY PORTFOLIO HOLDINGS (12/31/16) | |
% of Net Assets | |
Apple Inc. | 3.7% |
Alphabet Inc. (Class A & Class C) | 3.7% |
Microsoft Corp. | 3.4% |
Adams Natural Resources Fund, Inc.* | 2.9% |
Comcast Corp. (Class A) | 2.6% |
Wells Fargo & Co. | 2.4% |
Facebook, Inc. (Class A) | 2.3% |
Amazon.com, Inc. | 2.2% |
Exxon Mobil Corp. | 2.1% |
Boeing Co. | 2.1% |
Total | 27.4% |
* Non-controlled affiliated closed-end fund | |
SECTOR WEIGHTINGS (12/31/16) | |
% of Net Assets | |
Information Technology | 21.3% |
Financials | 15.8% |
Health Care | 13.0% |
Consumer Discretionary | 11.4% |
Industrials | 10.0% |
Consumer Staples | 8.9% |
Energy | 8.3% |
Utilities | 2.9% |
Real Estate | 2.3% |
Materials | 2.1% |
Telecommunication Services | 1.9% |
During the fourth quarter we initiated new positions in American Express, Amgen, Anadarko Petroleum, AvalonBay Communities, Broadcom, CenterPoint Energy, Priceline Group, and Waters Corp.
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 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 | Director of Shareholder Communications | prue@adamsfunds.com
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SOURCE Adams Diversified Equity Fund, Inc.
