ADX - Adams Diversified Equity Fund Reports Nine Month Results
BALTIMORE, Oct. 17, 2019 /PRNewswire/ -- Adams Diversified Equity Fund, Inc. (NYSE: ADX) today announced the Fund's results for the nine months ended September 30th. The total return on Adams Diversified Equity's net asset value, with dividends and capital gains reinvested, was 21.6%. Comparable figures for the S&P 500 and the Lipper Large-Cap Core Funds Average were 20.6% and 19.5%, respectively. The total return on the market price of the Fund's shares for the period was 26.8%.
For the twelve months ended September 30th, the total return on Adams Diversified Equity's net asset value, with dividends and capital gains reinvested, was 6.4%. Comparable figures for the S&P 500 and the Lipper Large-Cap Core Funds Average were 4.3% and 3.7%, respectively. The total return on the market price of the Fund's shares for the period was 9.1%.
"We are pleased that our returns exceeded the S&P 500 by 1.0% for the first nine months of 2019," said Mark Stoeckle, CEO of Adams Funds. "Our investments in Health Care, Technology, and Consumer Staples drove our performance."
NET ASSET VALUE |
9/30/2019 |
9/30/2018 |
Net assets |
$1,888,506,024 |
$1,950,866,811 |
Shares outstanding |
105,412,589 |
100,868,448 |
Net asset value per share |
$17.92 |
$19.34 |
The Fund repurchased 793,488 shares of its common stock during the past nine months at an average price per share of $15.01 and a weighted average discount to NAV of 13.1%.
The Third Quarter Report to Shareholders is expected to be released on or about October 28, 2019.
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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.
Contact:
Lyn Walther
Director of Shareholder Communications
800.638.2479 | walther@adamsfunds.com
SOURCE Adams Diversified Equity Fund, Inc.