This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Petroleum & Resources Corporation Declares $1.67 Year-End Distribution Of Capital Gains And Investment Income

BALTIMORE, Nov. 10, 2011 /PRNewswire/ -- The Board of Directors of Petroleum & Resources Corporation (NYSE: PEO) declared today a year-end distribution of $1.67 per share, consisting of the following:
  1. a capital gains distribution of $1.52 per share from net capital gains realized during 2011, comprised of $0.01 short-term and $1.51 long-term capital gain; and
  2. an income dividend of $0.15 per share from 2011 net investment income.

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.

This marks the 60th consecutive year in which the Corporation has paid out capital gains to its stockholders and the 77th consecutive year of paying dividends to its stockholders.

With this distribution, total distributions by the Corporation for 2011 will be $1.97, including distributions made prior to today's announcement of $0.30 per share, which consisted of $0.24 from net investment income, $0.01 from short-term capital gain, and $0.05 from long-term capital gain. The annual distribution rate of the net investment income and capital gains paid to stockholders by the Corporation for 2011 will be approximately 7.0%, calculated by dividing the total investment income and capital gains distributed during the year by the average month-end market price of the Corporation's Common Stock for the year.

For comparison, in 2010, the Corporation paid total distributions of $1.27, consisting of $0.32 in net investment income and $0.95 in capital gains, producing an annual distribution rate of 5.5%.

Petroleum & Resources is a Baltimore-based closed-end investment company.

For further information, contact: Douglas G. Ober, Chairman, President & CEO Lawrence L. Hooper, Jr., Vice President, General Counsel and Secretaryat (410) 752-5900 or (800) 638-2479.e-mail: contact@peteres.comwebsite:

SOURCE Petroleum & Resources Corporation

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs