BALTIMORE, Jan. 12, 2012 /PRNewswire/ -- The Board of Directors of The Adams Express Company (NYSE:ADX) declared a dividend of $0.05 per share, payable March 1, 2012, to stockholders of record February 10, 2012, consisting of $0.03 net investment income, $0.01 short-term capital gain, and $0.01 long-term capital gain, all realized in 2011.
Commenting on this dividend, Douglas G. Ober, Chairman and CEO of Adams Express, said: "This dividend is the first installment of the Company's distributions to stockholders this year, which for the year will be an amount equal to at least 6% of the Company's trailing 12-month average month-end market price. We have a long history of providing attractive distributions of dividend income and capital gains to our stockholders and our commitment to distribute at least 6% provides a more predictable level of cash distributions coupled with the opportunity for capital appreciation. We think this should be appealing to investors in today's volatile market and low interest rate environment."
The Adams Express Company is a Baltimore-based closed-end investment company. Its stock trades on the New York Stock Exchange under the ticker symbol ADX.
For further information please contact:Lawrence L. Hooper, Jr., Vice President, General Counsel and Secretary410-752-5900 or 800-638-2479 E-mail: email@example.comWebsite: 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 contact us. SOURCE Adams Express Company
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