BALTIMORE, MARYLAND - NOVEMBER 13, 2008 - The Board of Directors of The Adams Express Company (NYSE:ADX) declared today a year-end distribution of $0.49 per share, consisting of the following:
- a capital gain distribution of $0.36 per share, representing the undistributed net capital gain realized during 2008, all of which was long-term;
- and
Both payments are payable in stock or cash at the option of each stockholder. The payable date for the distribution is December 27, 2008, the record date is November 21, 2008, and the ex-dividend date is November 19, 2008.
Total distributions by the Company for 2008 will be $0.64, including distributions of $0.15 per share made prior to today’s announcement, which consisted of $0.13 from investment income, $0.01 from short-term capital gain, and $0.01 from long-term capital gain. For comparison, in 2007, the Company paid total distributions of $1.03, consisting of $0.32 in dividends and $0.71 in capital gains
Adams Express is a Baltimore-based closed-end investment company. Its stock is traded on the New York Stock Exchange under the ticker symbol ADX.
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For further information, please contact:
Joseph M. Truta, President
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