The Adams Express Company Declares Dividend and Announces First Quarter Performance
First Quarter Performance Tops Benchmarks
For the three months ended
For the twelve months ended
Adams Express' net asset value at
Net Asset Value 3/31/09 3/31/08 Net assets $760,002,176 $1,262,297,665 Shares outstanding 86,767,691 87,133,182 Net assets per share $8.76 $14.49
The net capital gain realized on investments at the end of the first quarter was
The Company repurchased 676,675 shares of its Common Stock during the quarter.
During the first quarter, six new names were added to the Company's portfolio with the purchases of shares of Atmos Energy Corp., Goldman Sachs Group, Inc., JPMorgan Chase & Co., Northwest Natural Gas Co., Walt Disney Co., and WGL Holdings, Inc. The Company added to its holdings in Avon Products, Bank of America, Coca-Cola, Du Pont, General Electric, Harsco, McDonald's, Prudential Financial, and Visa. Three names were eliminated from the portfolio with the tender of the shares of Genentech to Roche Holdings AG in connection with their merger and the sales of Prosperity Bancshares and Wilmington Trust. The holdings in Schlumberger and State Street were reduced.
The First Quarter Report to Stockholders is expected to be released on or about
The Adams Express Company is a
For further information, please contact Joseph M. Truta, President Lawrence L. Hooper, Jr., Vice President, General Counsel and Secretary 410-752-5900 or 800-638-2479 E. Mail: firstname.lastname@example.org Website: www.adamsexpress.com
For your convenience, all press releases are posted to our website. If you would like to receive future press releases by fax or e-mail, please let us know.
SOURCE The Adams Express Company