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PEO · Adams Natural Resources Fund, Inc.

Know the company

Company overview

The fund invests primarily in energy and natural-resources securities. Unlike an operating company, it does not have conventional revenue or earnings-per-share guidance.

Business: Internally managed, non-diversified closed-end equity fund focused primarily on energy and natural-resources securities
Listing: PEO · New York Stock Exchange
Reporting period: 2026-09-03
Dividend schedule: Quarterly

How the business works

The managed distribution policy permits funding from portfolio income and realized gains, and potentially return of capital. The board may amend or end the policy. No separate recurring supplemental dividend was identified.

Adams Natural Resources Fund, Inc.: financial report supporting reported earnings

Dividend & earnings snapshot

Dividend payments

Per common share

$0.54Reviewed declaration · Payment Aug 26, 2026

Regular dividend

Announced Jul 17, 2026

Dates and company reports

Announcement: Jul 17, 2026
Declaration: Jul 16, 2026
Ex-dividend: Not confirmed
Record: Jul 27, 2026
Payment: Aug 26, 2026

Extras are shown separately and are not assumed to repeat.

Reported earnings

Each measure shown separately, per share

Net investment income$0.29

Jan 1, 2026 to Jun 30, 2026

Dividend yield0.07%Public Researched current estimate

Reported annual income yield2.81%Reported net investment income $0.6100 per share for 2025-01-01 to 2025-12-31, divided by approved 2025-12-31 market price $21.7400. Excludes capital gains; historical, not a current yield or forecast.

Reported annual investment income$0.61Per share for 2025 FY. Excludes investment gains.

Annual dividend$2.16Public Researched regular dividend per share

Dividend payment history

Date or month	Per share
Aug 26, 2026	$0.54

Reported earnings and sources

Reported earnings for the latest four periods. Compare the same earnings measure across periods; different measures are not added together.

Reporting period	Per share	Source
Jan 1, 2026 to Jun 30, 2026	$0.29	SEC Announced Jul 30, 2026

Cash distributions and reported returns

Cash distributions are the total paid per share during each reporting period, including any gains or return of capital. Period lengths may differ, so compare the dates before comparing amounts. Short periods are not annualized.

Reporting period	Ending NAV	NAV change	Distributions / share	Reported NAV total return	Source
Jan 1, 2025 to Dec 31, 2025	$24.09	-0.50%	$2.05	+9.40%	Company filing
Jan 1, 2024 to Dec 31, 2024	$24.21	-2.50%	$1.77	+5.30%	Company filing

View older history (up to 7 years)

Reporting period	Ending NAV	NAV change	Distributions / share	Reported NAV total return	Source
Jan 1, 2023 to Dec 31, 2023	$24.83	-3.95%	$1.35	+2.50%	PEO own SEC common-share Financial Highlights, earlier distribution policy before May 2024. This annual result is dated legacy-policy evidence, not a current-policy trend point.
Jan 1, 2022 to Dec 31, 2022	$25.85	+34.50%	$1.63	+44.90%	PEO own SEC common-share Financial Highlights, earlier distribution policy before May 2024. This annual result is dated legacy-policy evidence, not a current-policy trend point.
Jan 1, 2021 to Dec 31, 2021	$19.22	+39.68%	$0.91	+47.70%	PEO own SEC common-share Financial Highlights, earlier distribution policy before May 2024. This annual result is dated legacy-policy evidence, not a current-policy trend point. The same SEC common-share Financial Highlights report a $16.52 fiscal period-end market value. This is an reported value, not a recovered exchange close; no saved raw archive close qualifies for FY2021.

NAV change excludes distributions. Reported NAV total return includes reinvestment and is copied from the fund statement, not estimated by adding cash distributions to the NAV change.

Why the annual trend is limited

The history includes changes in the portfolio, distribution policy or capital structure. Compare each dated period in that context. The chart keeps the observations separate across these changes.

Read the source filing or company notice

How to read PEO income

Dividends received after fund expenses help explain recurring income. Realized gains and return of capital are separate sources of distributions.

Watch dividend changes in the holdings and NAV over time. A high distribution rate does not guarantee stable capital.

Income and distributions

Income and cash distributions per share for the same dated periods. Shorter periods are kept separate and are not annualized. Dividends received after fund expenses help explain recurring income. Realized gains and return of capital are separate sources of distributions.

Reporting period	Net investment income/share	Total distributions/share
2025-01-01 to 2025-12-31	$0.61	$2.05
2024-01-01 to 2024-12-31	$0.63	$1.77

View older history (up to 7 years)

Reporting period	Net investment income/share	Total distributions/share
2023-01-01 to 2023-12-31	$0.68	$1.35
2022-01-01 to 2022-12-31	$0.80	$1.63
2021-01-01 to 2021-12-31	$0.55	$0.91

The assets behind the earnings

How PEO makes money

Financial snapshot: 2026-09-03. Research reviewed 2026-09-18. Compare results for the reporting periods shown. Historical results are not a forecast.

The assets it owns

See reported portfolio detailsInternally managed, non-diversified closed-end equity fund focused primarily on energy and natural-resources securities

Portfolio exposures and financial resources are described in the linked report.

A complete, comparable portfolio allocation is not available for this chart. No percentages have been estimated.

Adams Natural Resources Fund, Inc.: financial statements and portfolio disclosures

Reported earnings and distributions

2026-09-03 · $ millions

The linked financial report identifies the applicable earnings measure and period. No earnings estimate is inferred from the cash distribution.

Adams Natural Resources Fund, Inc.: financial report supporting reported earnings

The income-producing business

The earnings available to shareholders depend on the cash generated by these activities after operating and financing costs. Portfolio gains, financing proceeds and recurring income should be evaluated separately.

Adams Natural Resources Fund, Inc.: financial report supporting reported earnings

Natural-resources concentration

The fund primarily invests in energy and natural-resources securities, leaving results and realized-gain opportunities sensitive to conditions affecting those sectors.

Watch for changes in the underlying exposure and the next reported results before treating the current payment as evidence of continuing earnings support.

Adams Natural Resources Fund, Inc.: financial report supporting reported earnings

Distribution-policy flexibility

The policy permits potential return of capital and may be amended or ended by the board. This makes the payment level dependent on policy and portfolio outcomes rather than a fixed operating earnings stream.

Watch for changes in the underlying exposure and the next reported results before treating the current payment as evidence of continuing earnings support.

Adams Natural Resources Fund, Inc.: financial report supporting reported earnings

What would change the earnings picture?

For Adams Natural Resources Fund, Inc., follow the company’s recurring earnings measure in the next financial report, the announced cash distribution and financing costs. Key exposures to reassess: natural-resources concentration, distribution-policy flexibility.

Net asset value (NAV)

NAV per share$30.60Sep 29, 2026

Market price$27.35Sep 29, 2026

PREMIUM / DISCOUNT TO NAV10.62% discountCalculated from the displayed same-date values.

NAV is the fund's assets minus liabilities, divided by shares outstanding. All values are USD per share.

CEFConnect current common-share NAV and closing market price, both dated 2026-09-29. The published premium or discount agrees with the calculation within source rounding. Earlier SEC-reported NAV history is retained.

NAV source · Market-price source

Fly High context

The current payment is measurable, but conventional earnings coverage is not. Independent public research evidence indicates that recent distributions have relied substantially on realized gains in addition to net investment income. That structure calls for ongoing scrutiny of realized-gain generation, sector conditions, policy changes, and final distribution-source disclosures rather than reliance on an annualized yield alone.

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U.S. federal · Tax year 2025

Dividend tax treatment

The fund classified its 2025 distributions as ordinary dividends and long-term capital gains, with no return of capital. The mix can change from year to year.

This company information is a guide, not your personal tax statement. Use your Form 1099-DIV when you file.

Total ordinary dividends: 27.32%
Qualified dividends: Not confirmed
Capital-gain distributions: 72.68%
Return of capital: 0%

Tax year: 2025. Total distributions: $2.05 per share.

Tax details and source

Total ordinary dividends (includes qualified): 27.32%
Section 199A portion (within ordinary dividends): Not confirmed
Exempt-interest distributions: 0%
Reporting form: Form 1099-DIV
Source date: 2026-01-09

Qualified dividends are included in total ordinary dividends. Section 199A is a separate designation within ordinary dividends, not extra income or qualified dividend income.

Tax source

Your account type, holding period and circumstances affect treatment. Use your broker’s tax statement for filing. Return of capital generally reduces cost basis; amounts beyond basis can be taxable. IRS dividend guidance.

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