- PEO benefited from its diversification and was down 9.5% during the period
- Holdings in Basic Materials provided an offset to Energy declines
BALTIMORE, July 13, 2017 /PRNewswire/ -- The Board of Directors of Adams Natural Resources Fund, Inc. (PEO) today declared a distribution of $.10 per share from net investment income payable September 1, 2017, to shareholders of record August 11, 2017. This distribution represents the third payment this year toward the Fund's annual 6% minimum distribution rate commitment. In 2016, the Fund paid out distributions at an annual distribution rate of 6.1%. Details regarding the Fund's annual 6% minimum distribution rate commitment can be found at www.adamsfunds.com.
FIRST HALF PERFORMANCE
For the six months ended June 30th, the total return on Adams Natural Resources' net asset value, with dividends and capital gains reinvested, was -9.5%. Comparable figures for the Dow Jones U.S. Oil & Gas Index, the Dow Jones U.S. Basic Materials Index, and the Lipper Global Natural Resources Funds Average were -13.4%, 8.6%, and -6.9%, respectively. The total return on the market price of the Fund's shares was -6.3%.
For the twelve months ended June 30th, the total return on Adams Natural Resources' net asset value, with dividends and capital gains reinvested, was -0.2%. Comparable figures for the Dow Jones U.S. Oil & Gas Index, the Dow Jones U.S. Basic Materials Index, and the Lipper Global Natural Resources Funds Average were -5.0%, 20.3%, and 1.7%, respectively. The total return on the market price of the Fund's shares for the period was -1.7%.
"The Energy sector was particularly challenging in the first half of 2017 due to lower oil prices. The Fund was down 9.5%, which, due to its diversified portfolio, was better than the 12.6% decline of the Energy sector in the S&P 500," said Mark Stoeckle, CEO of Adams Funds.
| NET ASSET VALUE |
| 6/30/2017 | 6/30/2016 |
| Net assets | $614,725,670 | $640,217,539 |
| Shares outstanding | 28,551,049 | 28,092,864 |
| Net asset value per share | $21.53 | $22.79 |
The Semi-Annual Report to Shareholders is expected to be released on or about July 21, 2017.
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. (ADX) and Adams Natural Resources Fund, Inc. (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: www.adamsfunds.com.
Contact:Lyn Walther
Director of Shareholder Communications
410.752.5900 │ walther@adamsfunds.com
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