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Adams Diversified Equity Fund Announces 2019 Performance And January 28 Conference Call

BALTIMORE, Jan. 16, 2020 /PRNewswire/ -- Adams Diversified Equity Fund, Inc. (NYSE: ADX) announces the Fund's investment returns for 2019. "We were pleased to generate a 31.6% return in 2019, in line with our benchmark and 2.0% above our peer group for the year," said Mark Stoeckle, CEO of Adams Funds.

Adams Funds (PRNewsFoto/Adams Funds)

The total return on the Fund's net asset value for 2019 was 31.6%, with dividends and capital gains reinvested. The comparable figures for the S&P 500 Index and the Lipper Large-Cap Core Funds Average were 31.5% and 29.6%, respectively.  The total return on the Fund's market price for the period was 36.6%.

The Fund paid $1.42 per share in income dividends and realized capital gain distributions to shareholders in 2019, producing an annual distribution rate of 9.6%, exceeding the Fund's annual 6.0% minimum distribution rate commitment. Details regarding the annual 6.0% minimum distribution rate commitment can be found at adamsfunds.com.

The Fund will be holding a conference call on January 28, 2020 at 2:00 pm EST to discuss our 2019 performance. We invite shareholders to submit questions to investorrelations@adamsfunds.com. The call may be accessed at adamsfunds.com or by calling 1-844-707-6796 and requesting the Adams Funds conference call.  A replay of the call will be available through February 28, 2020 by dialing 1-877-344-7529. The access code is 10137467.

The 2019 Annual Report is expected to be released on or about February 24, 2020.

ANNUALIZED ONE, THREE, AND FIVE-YEAR COMPARATIVE RETURNS (12/31/19)


1 Year

3 Year

5 Year

Adams Diversified Equity Fund  (NAV)

31.6%

17.4%

12.4%

Adams Diversified Equity Fund (market price)

36.6%

19.4%

12.9%

Lipper Large-Cap Core Funds Average

29.6%

13.9%

10.3%

S&P 500

31.5%

15.3%

11.7%

 

NET ASSET VALUE ANNOUNCED

The Fund's net asset value at the end of 2019, compared with the year earlier, was:


12/31/19

12/31/18

Net assets

$1,951,591,643

$1,580,889,241

Shares outstanding

108,865,052

106,205,633

Net asset value per share

$17.93

$14.89

 

TEN LARGEST EQUITY PORTFOLIO HOLDINGS (12/31/19)


% of Net Assets

Microsoft Corporation

5.9%

Apple Inc.

4.4%

Alphabet Inc. Class A & Class C

3.6%

Amazon.com, Inc.

3.5%

Visa Inc.

2.7%

Bank of America Corporation

2.6%

JPMorgan Chase & Co.

2.4%

Merck & Co., Inc.

1.9%

Adams Natural Resources Fund, Inc.*

1.8%

Honeywell International Inc.

1.8%

     Total

30.6%

* Non-controlled affiliated closed-end fund


 

SECTOR WEIGHTINGS (12/31/19)


% of Net Assets

Information Technology

23.4%

Financials

14.1%

Health Care

13.7%

Communication Services

9.8%

Consumer Discretionary

9.5%

Industrials

9.2%

Consumer Staples

7.3%

Energy

4.5%

Utilities

3.1%

Real Estate

2.7%

Materials

2.2%

During the fourth quarter, we initiated new positions in AbbVie, Caterpillar, ConocoPhillips, CVS Health, Intel, L3Harris Technologies, Lincoln Electric Holdings, Linde plc, Magna International, S&P Global, and Starbucks.

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About Adams Funds
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 | investorrelations@adamsfunds.com

Cision

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SOURCE Adams Diversified Equity Fund, Inc.