Adams Natural Resources Fund Sets Share Price for Distribution
![Adams Natural Resources Fund Sets Share Price for Distribution](https://investorshangout.com/images/blog/investors-hangout-newswire.jpg)
Adams Natural Resources Fund Announces Issue Price for Shares
Adams Natural Resources Fund, Inc. (NYSE: PEO) has established an issue price of $22.75 per share for its upcoming third quarter distribution to shareholders. This price reflects the average of the high and low selling prices of the Fund's stock on the New York Stock Exchange on the specified valuation date.
Details of the Third Quarter Distribution
The common stock shares are associated with a distribution of $0.54, marking the first pay-out made under the Fund's new managed distribution policy. This innovative policy aims to ensure a minimum annual distribution of 8% of the average net asset value (NAV), apportioned evenly at a rate of 2% per quarter. The fourth quarter distribution will either meet the 2% requirement or satisfy the minimum distribution mandates in accordance with the Internal Revenue Code for regulated investment companies. The computation of the average NAV will rely on the previous four quarter-end NAVs before each declaration.
Estimated Sources for Distribution Payments
For the distribution scheduled for the end of August and others declared throughout the year, the following estimated sources have been identified:
Distribution Breakdown
The anticipated distribution sources contribute to the $0.54 distribution on August 30, 2024, with the following breakdown:
- Net Investment Income: $0.32 (59% of the total distribution)
- Net Realized Short-Term Gains: $0.00 (0% of the total distribution)
- Net Realized Long-Term Gains: $0.22 (41% of the total distribution)
- Return of Capital: $0.00 (0% of the total distribution)
Year-to-Date Performance
The year-to-date figures for 2024 show a total distribution of $0.74. This includes:
- Net Investment Income: $0.51 (69% of the total distribution)
- Net Realized Short-Term Gains: $0.00 (0% of the total distribution)
- Net Realized Long-Term Gains: $0.23 (31% of the total distribution)
- Return of Capital: $0.00 (0% of the total distribution)
Fund Performance Insights
Average annual total return (on NAV) over a five-year span ending in July 2024 is reported at 14.4%. The annualized current distribution rate is at 7.8%. Furthermore, the cumulative total return for the fiscal year up to July 31, 2024, stands at 12.9%, while the cumulative fiscal year distribution rate is noted at 2.7%.
Commitment to Shareholders
Adams Funds is proud of its longstanding commitment to returning value to its shareholders. With over 73 consecutive years of capital gains distributions and 90 continuous years of dividend payments, the Fund has demonstrated resilience across various market conditions.
About Adams Funds
Since its foundation in 1929, Adams Funds has guided countless investors toward achieving their financial objectives. It encompasses two closed-end funds, the Adams Diversified Equity Fund, Inc. (NYSE: ADX) and Adams Natural Resources Fund, Inc. (NYSE: PEO). The management team utilizes a disciplined strategy, ensuring steady annual distributions of 8% of the NAV or greater, thereby offering reliable income for long-term investment success.
Contact Information
For additional inquiries, individuals can reach out directly at 800.638.2479 or visit the contact section on the Adams Funds website.
Frequently Asked Questions
What is the issue price set by Adams Natural Resources Fund for shares?
The issue price is set at $22.75 per share for the third quarter distribution.
When will the distribution be payable?
The distribution will be payable on August 30, 2024.
What is the amount of the third-quarter distribution?
The third-quarter distribution amount is $0.54 per share.
How much net investment income is derived from the distribution?
The net investment income is $0.32, which accounts for 59% of the total distribution.
How long has Adams Funds been paying dividends?
Adams Funds has consistently paid dividends for more than 90 years, alongside capital gains for over 73 consecutive years.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
Related Articles
- Adams Diversified Equity Fund Sets $21.29 Share Price
- Virtual Event Platforms Market Growth and Trends
- TransAlta Announces Right to Convert Series G Preferred Shares
- Inventronics Limited Reports 2024 Q2 Financial Performance
- Northview Residential REIT Declares August Distribution
- AvidXchange Board Approves $100 Million Share Repurchase Plan
- Gulf Resources Faces Nasdaq Non-Compliance Notice
- Stifel Financial Corp. Updates July 2024 Performance Metrics
- Steve Gray to Retire from Range Resources Board
- Bitget Launches Blockchain4Her Awards for Women in Crypto