BALTIMORE, MARYLAND, January 16, 2020 — Adams Diversified Equity Fund, Inc. (NYSE: ADX) announces the Fund’s investment returns for 2019. “We were pleased to generate a 31.6% return in 2019, in line with our benchmark and 2.0% above our peer group for the year,” said Mark Stoeckle, CEO of Adams Funds.
The total return on the Fund’s net asset value for 2019 was 31.6%, with dividends and capital gains reinvested. The comparable figures for the S&P 500 Index and the Lipper Large-Cap Core Funds Average were 31.5% and 29.6%, respectively. The total return on the Fund’s market price for the period was 36.6%.
The Fund paid $1.42 per share in income dividends and realized capital gain distributions to shareholders in 2019, producing an annual distribution rate of 9.6%, exceeding the Fund’s annual 6.0% minimum distribution rate commitment. Details regarding the annual 6.0% minimum distribution rate commitment can be found at adamsfunds.com.
The Fund will be holding a conference call on January 28, 2020 at 2:00 pm EST to discuss our 2019 performance. We invite shareholders to submit questions to firstname.lastname@example.org. The call may be accessed at adamsfunds.com or by calling 1-844-707-6796 and requesting the Adams Funds conference call. A replay of the call will be available through February 28, 2020 by dialing 1-877-344-7529. The access code is 10137467.
The 2019 Annual Report is expected to be released on or about February 24, 2020.
ANNUALIZED ONE, THREE, AND FIVE-YEAR COMPARATIVE RETURNS (12/31/19)
|1 Year||3 Year||5 Year|
|Adams Diversified Equity Fund (NAV)||31.6%||17.4%||12.4%|
|Adams Diversified Equity Fund (market price)||36.6%||19.4%||12.9%|
|Lipper Large-Cap Core Funds Average||29.6%||13.9%||10.3%|
NET ASSET VALUE ANNOUNCED
The Fund’s net asset value at the end of 2019, compared with the year earlier, was:
|Net asset value per share||$17.93||$14.89|
TEN LARGEST EQUITY PORTFOLIO HOLDINGS (12/31/19)
|% of Net Assets|
|Alphabet Inc. Class A & Class C||3.6%|
|Bank of America Corporation||2.6%|
|JPMorgan Chase & Co.||2.4%|
|Merck & Co., Inc.||1.9%|
|Adams Natural Resources Fund, Inc.*||1.8%|
|Honeywell International Inc.||1.8%|
|* Non-controlled affiliated closed-end fund|
SECTOR WEIGHTINGS (12/31/19)
|% of Net Assets|
During the fourth quarter, we initiated new positions in AbbVie, Caterpillar, ConocoPhillips, CVS Health, Intel, L3Harris Technologies, Lincoln Electric Holdings, Linde plc, Magna International, S&P Global, and Starbucks.
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: adamsfunds.com.
For further information please contact:
Director of Shareholder Communications