Baltimore, Maryland, November 14, 2019 – Adams Diversified Equity Fund, Inc. (NYSE:ADX) declared today a year-end distribution of $1.27 per share. The total distributions by the Fund for 2019 will be $1.42, including the distributions totaling $0.15 per share made prior to today’s announcement. The annual distribution rate represented by these distributions is 9.6%.
The year-end distribution consists of the following:
- $0.09 per share from 2019 net investment income; and
- $1.18 per share from net capital gains realized during 2019, comprised all of long-term gain.
As the Fund just celebrated its 90th anniversary, this marks the 55th consecutive year that it has paid out capital gains and the 84th consecutive year it has paid out dividends to its shareholders.
Commenting on the year-end distribution, Mark E. Stoeckle, CEO of Adams Diversified Equity Fund, said: "We are proud of our long history of providing dividend income and capital gains to our shareholders. This year we are pleased to announce our 2019 distribution rate of 9.6%, which exceeds our average distribution rate of 7.6% over the past ten years and our commitment to distribute at least 6.0% of the Fund’s trailing 12-month average month-end market price.”
The payable date for the distribution is December 26, 2019, the record date is November 25, 2019, and the ex-dividend date is November 22, 2019.
The year-end distribution is payable in stock and/or cash at the option of each shareholder.
Details regarding the annual 6% minimum distribution rate can be found at adamsfunds.com.
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