BALTIMORE, April 21, 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 June 1, 2017, to shareholders of record May 12, 2017. This distribution represents the second 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 QUARTER PERFORMANCE
For the three months ended March 31st, the total return on Adams Natural Resources' net asset value, with dividends and capital gains reinvested, was -3.4%. 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 -6.6%, 7.6%, and -1.3%, respectively, while the blended Energy & Materials benchmark finished the quarter -3.8%. The total return on the market price of the Fund's shares was -3.2%.
"Energy stock performance was challenged this quarter due in part to a 5.8% decline in the price of crude oil. PEO's diversified investment strategy, which incorporates investing in the Basic Materials sector, helped to offset the broad weakness in Energy. Our chemical stock holdings performed particularly well during the quarter," said Mark Stoeckle, CEO of Adams Funds.
For the twelve months ended March 31st, the total return on Adams Natural Resources' net asset value, with dividends and capital gains reinvested, was 14.7%. 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 13.9%, 24.1%, and 17.0%, respectively, while the blended Energy & Materials benchmark was 15.9%. The total return on the market price of the Fund's shares for the period was 14.1%.
NET ASSET VALUE
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| 3/31/2017 | 3/31/2016 |
| Net assets | $659,362,650 | $597,530,566 |
| Shares outstanding | 28,551,804 | 28,092,821 |
| Net asset value per share | $23.09 | $21.27 |
The First Quarter Report to Shareholders is expected to be released on or about April 28, 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: Nancy J. Floyd Prue I Director of Shareholder Communications I 410.752.5900 | prue@adamsfunds.com
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