- PEO benefited from its diversification as holdings in Basic Materials provided an offset to Energy declines
- The Fund surpassed the performance of its blended Energy & Materials benchmark
BALTIMORE, MARYLAND – April 21, 2017 – The Board of Directors of Adams Natural Resources Fund, Inc. (NYSE:PEO) today declared a distribution of $.10 per share from net investment income, payable June 1, 2017, to shareholders of record May 12, 2017. This distribution represents the second payment this year toward the Fund’s annual 6% minimum distribution rate commitment. In 2016, the Fund paid out distributions at an annual distribution rate of 6.1%. Details regarding the Fund’s annual 6% minimum distribution rate commitment can be found at www.adamsfunds.com.
First Quarter Performance
For the three months ended March 31st, the total return on Adams Natural Resources’ net asset value, with dividends and capital gains reinvested, was -3.4%. Comparable figures for the Dow Jones U.S. Oil & Gas Index, the Dow Jones U.S. Basic Materials Index, and the Lipper Global Natural Resources Funds Average were -6.6%, 7.6%, and -1.3%, respectively, while the blended Energy & Materials benchmark finished the quarter -3.8%. The total return on the market price of the Fund’s shares was -3.2%.
“Energy stock performance was challenged this quarter due in part to a 5.8% decline in the price of crude oil. PEO’s diversified investment strategy, which incorporates investing in the Basic Materials sector, helped to offset the broad weakness in Energy. Our chemical stock holdings performed particularly well during the quarter,” said Mark Stoeckle, CEO of Adams Funds.
For the twelve months ended March 31st, the total return on Adams Natural Resources’ net asset value, with dividends and capital gains reinvested, was 14.7%. Comparable figures for the Dow Jones U.S. Oil & Gas Index, the Dow Jones U.S. Basic Materials Index, and the Lipper Global Natural Resources Funds Average were 13.9%, 24.1%, and 17.0%, respectively, while the blended Energy & Materials benchmark was 15.9%. The total return on the market price of the Fund’s shares for the period was 14.1%.
Net Asset Value
3/31/2017 | 3/31/2016 | |
---|---|---|
Net assets | $659,362,650 | $597,530,566 |
Shares outstanding | 28,551,804 | 28,092,821 |
Net asset value per share | $23.09 | $21.27 |
The First Quarter Report to Shareholders is expected to be released on or about April 28, 2017.
For further information, please contact:
Nancy J. Floyd Prue, CFA
Director of Shareholder Communications
410.752.5900 or 800.638.2479
email