ADAMS EXPRESS DECLARES YEAR-END CAPITAL GAIN DISTRIBUTION AND INVESTMENT INCOME DIVIDEND
BALTIMORE, MARYLAND, November 14, 2002 -- The Board of Directors of The Adams Express Company today declared the following year-end income dividend and capital gain distribution, payable December 27, 2002, to stockholders of record as of November 25, 2002:
$0.01 per share, representing the undistributed net investment income for the year 2002; and
$0.51 per share, representing the undistributed net capital gain realized during the year 2002, all of which is long-term.
Both payments are payable in stock or cash at the option of each stockholder.
Distributions in 2002 made prior to today's announcement were $0.24 per share, consisting of $0.18 from investment income, $0.03 from long-term capital gain, and $0.03 from short-term capital gain.
The ex-dividend date for the year-end distribution is November 21, 2002.
The Adams Express Company is a Baltimore-based closed-end investment company. It is traded on the New York Stock Exchange and Pacific Exchange, and its symbol is ADX.
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For further information, please contact:
Joseph M. Truta, President
Lawrence L. Hooper, Jr., Vice President, Secretary & General Counsel
410-752-5900 or 800-638-2479
E-mail: contact@adamsexpress.com
Website: www.adamsexpress.com
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