|By PR Newswire||
|December 10, 2012 05:54 PM EST||
BALTIMORE, Dec. 10, 2012 /PRNewswire/ -- The Adams Express Company (NYSE: ADX), determined today the issue price for the closed-end fund's year-end distribution for shareholders who have elected to receive the distribution in the form of stock.
The price at which the common stock will be issued in payment of the $0.52 year-end distribution, consisting of $0.05 in net investment income and $0.47 in net realized capital gains, is $10.455 per share. This price is the mean between today's high and low sales prices of the Fund's stock on the New York Stock Exchange. The year-end distribution is payable on December 27, 2012.
The Fund has committed to distribute each year an amount equal to at least 6% of the Fund's trailing 12-month average month-end market price. Please see the information posted at our website, www.adamsexpress.com, for more details concerning the 6% minimum annual distribution rate commitment and how the annual distribution rate is calculated.
The Fund has paid out capital gains to its shareholders for 48 consecutive years and has paid dividends for 77 consecutive years.
For further information please contact:
SOURCE The Adams Express Company
- "All It Took Was One E-Mail to Larry," Says Former eBay Research Director As He Moves to Google
- Google Ramps Up Its Mobile Reach: Launches "Mobile Web Search"
- VoIP Update: Yahoo! Buys DialPad
- Ericsson + Napster = World's First "Wireless Digital Music" Brand
- SYS-CON i-Technology Podcast August 30, 2005
- Free Guest Passes for the SOA World Conference & Expo in NYC
- A Flair for Food - Health-Conscious Cooking Is This Chef's Cup Of Tea
- Sony PSP May Feature Porn
- Kapow Helps Seiko UK, Provides SMS Text-Alert Services
- South Korea is World's Largest Phisher
- Will the Mac OS Now Be Offered by Dell?
- UK Targeted for Trojan Attacks