BALTIMORE, MARYLAND – January 12, 2017 – 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%|
Net Asset Value Announced
The Fund’s net asset value at the end of 2016, compared with the year earlier, was:
|Net asset value per share||$15.22||$15.04|
Ten Largest Equity Portfolio Holdings (12/31/16)
|% of Net Assets|
|Alphabet Inc. (Class A & Class C)||3.7%|
|Adams Natural Resources Fund, Inc.*||2.9%|
|Comcast Corp. (Class A)||2.6%|
|Wells Fargo & Co.||2.4%|
|Facebook, Inc. (Class A)||2.3%|
|Exxon Mobil Corp.||2.1%|
* Non-controlled affiliated closed-end fund
Sector Weightings (12/31/16)
|% of Net Assets|
During the fourth quarter we initiated new positions in American Express, Amgen, Anadarko Petroleum, AvalonBay Communities, Broadcom, CenterPoint Energy, Priceline Group, and Waters Corp.
For further information, please contact:
Nancy J. Floyd Prue, CFA
Director of Shareholder Communications
410.752.5900 or 800.638.2479