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 | |