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 Fund Declares Year-end Distribution; Exceeds Its Annual 6% Minimum Distribution Rate Commitment

BALTIMORE, Nov. 15, 2013 /PRNewswire/ -- Petroleum & Resources (NYSE:PEO) declared today a year-end distribution of $1.58 per share. The total distributions by the Fund for 2013 will be $1.88, including the distributions of $0.30 per share made prior to today's announcement. The annual distribution rate represented by these distributions is 7.2%.

The year-end distribution consists of the following:

1) $1.35 per share from net capital gains realized during 2013,   comprised of $0.08 short-term and $1.27 long-term capital gain; and 

2) $0.23 per share from 2013 net investment income.

This marks the 62 nd consecutive year that the Fund has paid out capital gains and the 79 th consecutive year it has paid out dividends to its shareholders.

Commenting on the year-end distribution, Mark E. Stoeckle, CEO of Petroleum & Resources, said: "We have committed to our shareholders to distribute each year an amount equal to at least 6% of the Fund's trailing 12-month average month-end market price. This year, we are pleased to be in a position to pay out distributions at a distribution rate of 7.2%. We're very proud of our long history of providing dividend income and capital gains to our shareholders and this year's distributions add to that exceptional track record."

The payable date for the distribution is December 27, 2013, the record date is November 25, 2013, and the ex-dividend date is November 21, 2013. Both payments are payable in stock or cash at the option of each shareholder.

Details regarding the annual 6% minimum distribution rate can be found at

Petroleum & Resources is a Baltimore-based closed-end fund that has been operating as an investment company since 1929.  Its stock trades on the New York Stock Exchange under the ticker symbol PEO.                                                      

For further information, contact:  Lawrence L. Hooper, Jr., Vice President, General Counsel & Secretary  at (410) 752-5900 or (800) 638-2479  E-Mail:  Website:

SOURCE Petroleum & Resources

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 This material may not be published, broadcast, rewritten or redistributed.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