Resources

Adams Natural Resources Fund declares the end of the year

BALTIMORE, Nov. 10, 2022 (GLOBE NEWSWIRE) — Adams Natural Resources Fund, Inc. (NYSE: PEO) today declared a year-end distribution of $1.33 per share. The Fund’s total distributions for 2022 will be $1.63, including distributions totaling $0.30 per share made prior to today’s announcement. The annual payout rate represented by these distributions is 8.1%.

The year-end breakdown consists of the following:

  • $0.53 per share from 2022 net investment income; and
  • $0.80 per share from net realized capital gains in 2022, including $0.15 short-term gain and $0.65 long-term gain.

This marks the 71st consecutive year in which the Fund paid capital gains and the 88e consecutive year, it paid dividends to its shareholders.

Commenting on the year-end distribution, Mark E. Stoeckle, CEO of Adams Natural Resources Fund, said, “Once again, the strong performance of energy during the year contributed positively to our long tradition of substantial distribution to our shareholders. Although future market conditions are uncertain, we are pleased to announce our 2022 payout ratio of 8.1%. This exceeds our commitment to distribute to shareholders at least 6% of the 12-month month-end average market price. »

The distribution payment date is December 16, 2022, the record date is November 21, 2022 and the ex-dividend date is November 18, 2022. The year-end distribution is payable in shares and/or cash at the discretion of each shareholder.

Details of the annual distribution rates and the Fund’s minimum 6% distribution commitment are available at adamsfunds.com.

About Adams Funds

Since 1929, Adams Funds has consistently helped generations of investors achieve their investment goals. Adams Funds is made up 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 been paying dividends for over 80 years through numerous market cycles. The Funds are committed to paying an annual distribution rate of 6% or more, providing reliable income for long-term investors. Shares can be purchased through our transfer agent or a broker. For more information about Adams Funds, please visit: adamsfunds.com.

For more information, contact us: 800.638.2479 │ adamsfunds.com/about/contact