Adams Diversified Equity Fund Declares Distribution and Announces First Quarter Performance

BALTIMORE, April 20, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of Adams Diversified Equity Fund, Inc. (NYSE: ADX) today declared a distribution of $.05 per share from net investment income, payable June 1, 2023, to shareholders of record May 18, 2023. This distribution represents the second payment this year toward the Fund’s annual 6% minimum distribution rate commitment, which can be found at adamsfunds.com.

FIRST QUARTER PERFORMANCE

For the three months ended March 31^st, the total return on Adams Diversified Equity’s net asset value, with dividends and capital gains reinvested, was 6.9%. Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category were 7.5% and 6.5%, respectively. The total return on the market price of the Fund’s shares for the period was 7.3%.

For the twelve months ended March 31^st, the total return on Adams Diversified Equity’s net asset value, with dividends and capital gains reinvested, was -7.7%. Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category were -7.7% and -7.7%, respectively. The total return on the market price of the Fund’s shares for the period was -9.7%.

The First Quarter Report to Shareholders is expected to be available on or about April 26, 2023.

ANNUALIZED COMPARATIVE RETURNS (3/31/2023)

	1 Year		3 Year		5 Year
Adams Diversified Equity Fund (NAV)	-7.7%		18.5%		12.0%
Adams Diversified Equity Fund (market price)	-9.7%		17.6%		11.7%
Morningstar U.S. Large Blend Category	-7.7%		18.1%		10.2%
S&P 500	-7.7%		18.6%		11.2%

NET ASSET VALUE ANNOUNCED

The Fund’s net asset value at March 31, 2023, compared with the year earlier, was:

	3/31/2023	3/31/2022
Net assets	$2,238,417,080	$2,533,172,745
Shares outstanding	120,844,712	117,872,270
Net asset value per share	$18.52	$21.49