PEO - Adams Diversified Equity Fund Declares Distribution and Announces First Half Performance | Benzinga
BALTIMORE, July 18, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Adams Diversified Equity Fund, Inc. (NYSE:ADX) today declared a distribution of $.44 per share, payable August 30, 2024 in newly issued shares unless shareholders elect to receive cash, to shareholders of record August 5, 2024. This distribution represents the initial payment under the Fund's Managed Distribution Policy to pay at least 2% of average net asset value each quarter. You should not draw any conclusions about the Fund's investment performance from the amount of the current distribution or from the terms of the Fund's MDP.
FIRST HALF PERFORMANCE
For the six months ended June 30th, the total return on Adams Diversified Equity's net asset value, with dividends and capital gains reinvested, was 15.8%. Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category were 15.3% and 14.1%, respectively. The total return on the market price of the Fund's shares for the period was 22.0%.
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 27.5%. Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category were 24.6% and 23.2%, respectively. The total return on the market price of the Fund's shares for the period was 37.6%.
The Semi-Annual Report to Shareholders is expected to be available on or about July 24, 2024.
| ANNUALIZED COMPARATIVE RETURNS (6/30/2024) |
| 1 Year |
| 3 Year |
| 5 Year |
| Adams Diversified Equity Fund (NAV) |
| 27.5% |
| 11.2% |
| 15.6% |
| Adams Diversified Equity Fund (market price) |
| 37.6% |
| 13.2% |
| 16.6% |
| Morningstar U.S. Large Blend Category |
| 23.2% |
| 8.5% |