BALTIMORE, Nov. 13, 2014 /PRNewswire/ -- Adams Express
(NYSE: ADX) declared today a year-end distribution of $1.03 per share. The total distributions by the
Fund for 2014 will be $1.18,
including the distributions of $0.15
per share made prior to today's announcement. The annual
distribution rate represented by these distributions is 8.8%.
The year-end distribution consists of the following:
- $0.95 per share from net capital
gains realized during 2014, comprised of $0.05 short-term and $0.90 long-term capital gain; and
- $0.08 per share from 2014 net
investment income.
This marks the 50th consecutive year that the Fund
has paid out capital gains and the 79th consecutive year
it has paid out dividends to its shareholders.
Commenting on the year-end distribution, Mark E. Stoeckle, CEO of Adams Express, said:
"The commitment we have made to our shareholders is 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, we will pay out
distributions at an annual rate of close to 9%. We are very proud
of our long history of providing dividend income and capital gains
to our shareholders and this year's distributions add to that
exceptional track record."
The payable date for the distribution is December 29, 2014, the record date is
November 24, 2014, and the
ex-dividend date is November 20,
2014. Both payments are payable in stock or cash at the
option of each shareholder.
Details regarding the annual 6% minimum distribution rate can be
found at www.adamsexpress.com.
The Adams Express Company 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 symbol ADX.
For further information, contact:
Lawrence L. Hooper, Jr., Vice
President, General Counsel & Secretary
at (410) 752-5900 or (800) 638-2479
e-mail: contact@adamsexpress.com
Website: www.adamsexpress.com
SOURCE Adams Express