Adams Natural Resources Fund Declares Dividend And Announces First Quarter Performance
BALTIMORE, April 16, 2015 /PRNewswire/ -- The Board of Directors of Adams Natural Resources Fund, Inc. (NYSE:PEO) today declared an interim dividend of $0.10 per share, payable June 1, 2015, to shareholders of record May 13, 2015. This dividend represents the second payment this year toward the Fund's annual 6% minimum distribution rate commitment. In 2014, the Fund paid out distributions at an annual distribution rate of 6.6%. Details regarding the Fund's annual 6% minimum distribution rate commitment can be found at www.adamsfunds.com.
The Fund also announced its performance for the first quarter.
First Quarter Performance
Reflecting headwinds resulting from the precipitous drop in oil prices, the total return on Adams Natural Resources' net asset value for the three months ended March 31st, with dividends and capital gains reinvested, was (2.8)%. The comparable figure for the Lipper Global Natural Resources Funds Index (Lipper Peer Group) was (1.2)%. The total return on Adams Natural Resources' market price was (2.5)%.
For the twelve months ended March 31st, the total return on Adams Natural Resources' net asset value, with dividends and capital gains reinvested, was (12.7)%. The comparable figure for the Lipper Peer Group was (18.2)%. The total return on Adams Natural Resources' market price was (10.7)%.
The Fund's net asset value at March 31, 2015, compared with the year earlier, was:
Net Asset Value |
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3/31/15 |
3/31/14 |
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Net assets |
$730,854,522 |
$879,687,463 |
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Shares outstanding |
27,392,919 |
26,728,828 |
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Net asset value per share |
$26.68 |
$32.91 |
The Fund realized a net capital loss of $(0.21) per share from the securities transactions that it conducted during the quarter.
The First Quarter Report to Shareholders is expected to be released on or about April 24, 2015.
Adams Natural Resources Fund, Inc., formerly known as Petroleum & Resources Corporation, is a Baltimore-based closed-end fund that has been operating as an investment company since 1929. Its stock trades on the New York Stock Exchange under the ticker symbol PEO.
For further information, please contact:
Lawrence L. Hooper, Jr.,
Vice President, General Counsel and Secretary
410-752-5900 or 800-638-2479
E. Mail: [email protected]
Website: www.adamsfunds.com
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SOURCE Adams Natural Resources Fund, Inc.
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