The Adams Express Company Announces $10.455 Issue Price Of Shares For Year-end Distribution Payable December 27, 2012
BALTIMORE, Dec. 10, 2012 /PRNewswire/ -- The Adams Express Company (NYSE: ADX), determined today 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.
The price at which the common stock will be issued in payment of the $0.52 year-end distribution, consisting of $0.05 in net investment income and $0.47 in net realized capital gains, is $10.455 per share. This price is the mean between today's high and low sales prices of the Fund's stock on the New York Stock Exchange. The year-end distribution is payable on December 27, 2012.
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. Please see the information posted at our website, www.adamsexpress.com, for more details concerning the 6% minimum annual distribution rate commitment and how the annual distribution rate is calculated.
The Fund has paid out capital gains to its shareholders for 48 consecutive years and has paid dividends for 77 consecutive years.
For further information please contact:
SOURCE The Adams Express Company
More by this Source
The Adams Express Fund Declares Dividend And Reports Performance For The First Half Of 2013
Jul 10, 2013, 15:14 ET
Adams Express Fund Resumes Repurchasing Stock
Jul 02, 2013, 10:07 ET
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.