BALTIMORE, MARYLAND – July 9, 2015 –
PERFORMANCE
Adams Diversified Equity Fund, Inc. (NYSE:ADX) continued its recent outperformance, reporting a total return on net asset value of 2.7% for the first six months of 2015, well ahead of the S&P 500 return of 1.2% and the Lipper Large-Cap Core Mutual Funds Average (Lipper Peer Group) return of 1.0%. The total return on Adams Diversified Equity’s market price was 2.8%.
For the twelve months ended June 30th, the total return on Adams Diversified Equity’s net asset value, with dividends and capital gains reinvested, was 9.4%. Comparable figures for the S&P 500 and the Lipper Peer Group were 7.4% and 5.8%, respectively. The total return on Adams Diversified Equity’s market price was 10.3%.
DIVIDEND
The Board of Directors today declared an interim dividend of $0.05 per share, payable September 1, 2015, to shareholders of record August 12, 2015. This dividend represents the third payment toward this year’s annual 6% minimum distribution rate commitment. In 2014, the Fund paid out distributions at an annual distribution rate of 8.8%. Details regarding the Fund’s annual 6% minimum distribution rate commitment can be found at www.adamsfunds.com.
NET ASSET VALUE
| 6/30/15 | 6/30/14 | |
|---|---|---|
| Net assets | $1,546,489,828 | $1,507,502,245 |
| Shares outstanding | 95,542,255 | 93,780,557 |
| Net asset value per share | $16.19 | $16.07 |
The Fund repurchased 765,000 shares of its common stock during six-month period at an average price per share of $14.05 and a weighted average discount to net asset value of 13.8%.
The Fund realized a net capital gain of $0.52 per share from the securities transactions that it conducted during the six-month period.
The Second Quarter Report to Shareholders is expected to be released on or about July 17, 2015.
Adams Diversified Equity Fund, Inc., formerly known as The Adams Express Company, is a Baltimore-based closed-end fund that has been operating as an investment company since 1929. Its stock trades on the New York Stock Exchange under the ticker symbol ADX.
For further information, please contact:
Nancy J. Floyd Prue, CFA
Director of Shareholder Communications
410.752.5900 or 800.638.2479
email