Adams Diversified Equity Fund, one of the oldest closed-end funds, has provided income to shareholders since 1929. It generates income through dividends from equity holdings and realized capital gains. The fund targets an annual distribution rate of 8% of NAV, with quarterly payments and a year-end special distribution. Its largest holdings include NVIDIA, Apple, and Microsoft, which contribute little to income. Johnson & Johnson is a significant income contributor, recently increasing its dividend, marking its 64th consecutive year of increases.
"Adams Diversified Equity Fund has distributed income to shareholders since 1929, making it one of the oldest closed-end funds in the United States, with a yield of roughly 8%."
"The fund generates income through two distinct channels: dividends paid by its underlying equity holdings and realized capital gains distributed to shareholders."
"NVIDIA and Apple are the two largest positions but neither is a meaningful dividend contributor, with NVIDIA paying just $0.01 per quarter and Apple $0.26."
"The real income anchor is Johnson & Johnson, which just raised its quarterly dividend 3.1% to $1.34 per share, marking its 64th consecutive year of dividend increases."
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