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Adams Diversified Equity Fund Reports Nine-Month Results

Donnerstag, 13.10.2016 22:20 von

PR Newswire

BALTIMORE, Oct. 13, 2016 /PRNewswire/ --  

PERFORMANCE

Adams Diversified Equity Fund, Inc. (NYSE:ADX) today announced the Fund's results for the nine months ended September 30th. The total return on Adams Diversified Equity's net asset value, with dividends and capital gains reinvested, was 5.3%. Comparable figures for the S&P 500 and the Lipper Large-Cap Core Funds Average were 7.8% and 6.0%, respectively.  The total return on the market price of the Fund's shares for the period was 3.7%.

Adams Funds

For the twelve months ended September 30th, the total return on Adams Diversified Equity's net asset value, with dividends and capital gains reinvested, was 12.7%.  Comparable figures for the S&P 500 and the Lipper Large-Cap Core Funds Average were 15.4% and 12.5%, respectively. The total return on the market price of the Fund's shares for the period was 10.9%.

 

NET ASSET VALUE


9/30/2016

9/30/2015

Net assets

$1,517,835,665

$1,424,167,228

Shares outstanding

97,016,857

95,419,646

Net asset value per share

$15.65

$14.93

The Fund repurchased 875,663 shares of its common stock during the past nine months at an average price per share of $12.74 and a weighted average discount to NAV of 15.7%.

The Third Quarter Report to Shareholders is expected to be released on or about October 21, 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.