The Adams Express Company Meets 6% Annual Distribution Commitment With the Year-end Distribution Declared Today

BALTIMORE, Md., Nov. 10, 2011 /PRNewswire/ -- The Board of Directors of The Adams Express Company (NYSE: ADX) declared today a year-end distribution of $0.50 per share, consisting of the following:

1. a capital gains distribution of $0.48 per share from net capital gains realized during 2011, comprised of $0.06 short-term and $0.42 long-term capital gain; and
2. an income dividend of $0.02 per share from 2011 net investment income.

Commenting on this year's year-end distribution, Douglas G. Ober , Chairman and CEO of Adams Express, said: "This amount is consistent with the commitment we made to our stockholders in September that we will distribute each year an amount equal to at least 6% of the Company's trailing 12-month average month-end market price. Our commitment reflects our long history of providing attractive distributions of dividend income and capital gains and adds predictability to the amount that our stockholders will be receiving. We will continue to manage the portfolio for solid long-term returns while providing a commitment to a cash payout of at least 6% regardless of market conditions. This should be appealing to investors in today's volatile market and low interest rate environment."  

Please see the information posted at our website, www.adamsexpress.com, for more details concerning the 6% annual distribution commitment.

This marks the 47th consecutive year in which the Company has paid out capital gains to its stockholders and the 76th consecutive year of paying dividends to its stockholders.

The payable date for the distribution is December 27, 2011, the record date is November 21, 2011, and the ex-dividend date is November 17, 2011. Both payments are payable in stock or cash at the option of each stockholder.

With this distribution, total distributions by the Company for 2011 will be $0.65, including distributions of $0.15 per share made prior to today's announcement, which consisted of $0.13 from net investment income, $0.01 from short-term capital gain, and $0.01 from long-term capital gain.  The annual distribution rate represented by these distributions is 6.1%. The annual distribution rate is the total income dividends and capital gain distributions during the year divided by the average month-end market price of the Company's Common Stock on the NYSE for the twelve months ended October 31.

Adams Express is a Baltimore-based closed-end investment company.

For further information, contact:
Douglas G. Ober , Chairman & CEO
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 The Adams Express Company

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