PEO - Adams Natural Resources Fund Resumes Share Repurchase Program
BALTIMORE, March 20, 2020 /PRNewswire/ -- Adams Natural Resources Fund, Inc. (NYSE: PEO) announced today that it is engaging in share repurchases pursuant to its authority under its previously announced share repurchase program. Share repurchases may be made in the open market from time to time, as determined by the portfolio management team, when market conditions and portfolio management considerations warrant and the shares are trading at market prices of at least 10% below net asset value.
Mark Stoeckle, the Fund's Chief Executive Officer, said, "We believe this activity reflects our ongoing commitment to provide value for our shareholders, especially in recognition of current events."
The Fund's repurchase program is implemented on a discretionary basis under the direction of its portfolio management team. There can be no assurance that shares will be repurchased in any given amount going forward and repurchases may be discontinued at any time. The share repurchase program may increase the Fund's net asset value per share and could also have the benefit of providing additional liquidity in the trading of shares.
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About Adams Funds
Since 1929, Adams Funds have 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 that has 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:
Lyn Walther
Director of Shareholder Communications
800.638.2479
investorrelations@adamsfunds.com
SOURCE Adams Funds