BALTIMORE, Dec. 9, 2014 /PRNewswire/ -- The Adams
Express Company (NYSE: ADX) has determined that $13.79 per share is the issue price for the
closed-end fund's year-end distribution for shareholders who have
elected to receive the distribution in the form of stock. This
price is the mean between the high and low sales prices of the
Fund's stock on the New York Stock Exchange on December 8, 2014.
The shares of common stock will be issued in payment of the
$1.03 year-end distribution,
consisting of $0.08 in net investment
income and $0.95 in net realized
capital gains. The year-end distribution is payable on December 29, 2014.
The Fund has committed to distribute each year an amount equal
to at least 6% of the Fund's trailing 12-month average month-end
market price. This year, the Fund is distributing an amount that
results in an 8.8% annual distribution rate, exceeding the annual
minimum 6% commitment. Please see the information posted at our
website, www.adamsexpress.com, for more details concerning the
annual minimum 6% distribution rate commitment.
The Fund has paid out capital gains to its shareholders for 50
consecutive years and has paid dividends for 79 consecutive
years.
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For further
information please contact:
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Lawrence L. Hooper,
Jr., Vice President, General Counsel and Secretary
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(410) 752-5900 or
(800) 638-2479
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email:
contact@adamsexpress.com
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website:
www.adamsexpress.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/adams-express-fund-announces-1379-issue-price-of-shares-for-year-end-distribution-payable-december-29-2014-300007206.html
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SOURCE Adams Express Company