Adams Diversified Equity Fund Announces 2023 Performance

BALTIMORE, Jan. 18, 2024 (GLOBE NEWSWIRE) -- Adams Diversified Equity Fund, Inc. (NYSE: ADX) announces the Fund’s investment returns for 2023.

The total return on the Fund’s net asset value for 2023 was 27.5%, with dividends and capital gains reinvested. The comparable figures for the S&P 500 Index and Morningstar U.S. Large Blend Category were 26.3% and 24.1%, respectively. The total return on the Fund’s market price for the period was 31.2%. “We were pleased to generate a 27.5% return in 2023, outperforming our benchmark and 3.4% ahead of our peer group,” said Jim Haynie, CEO of Adams Funds.

The Fund paid $1.30 per share in income dividends and realized capital gain distributions to shareholders in 2023, producing an annual distribution rate of 8.1%, exceeding the Fund’s annual 6% minimum distribution rate commitment. Details regarding the annual 6% minimum distribution rate commitment can be found at adamsfunds.com.

The 2023 Annual Report is expected to be released on or about February 15, 2024.

ANNUALIZED ONE, THREE, AND FIVE-YEAR COMPARATIVE RETURNS (12/31/23)

	1 Year	3 Year	5 Year
Adams Diversified Equity Fund (NAV)	27.5%	11.0%	16.4%
Adams Diversified Equity Fund (market price)	31.2%	11.0%	16.8%
Morningstar U.S. Large Blend Category	24.1%	8.9%	14.5%
S&P 500	26.3%	10.0%	15.7%

NET ASSET VALUE ANNOUNCED

The Fund’s net asset value at the end of 2023, compared with the year earlier, was:

	12/31/23		12/31/22
Net assets	$2,550,393,350		$2,100,737,733
Shares outstanding	124,051,639		120,900,484
Net asset value per share	$20.56		$17.38