BALTIMORE, MARYLAND, November 8, 2007 -- The Board of Directors of The Adams Express Company (NYSE:ADX) declared today a year-end distribution of $0.88 per share, consisting of the following:
- a capital gain distribution of $0.70 per share, representing the undistributed net capital gain realized during 2007, of which $0.63 was long-term and $0.07 was short-term; and
- an income dividend of $0.18 per share, representing the undistributed net investment income for 2007.
Both payments are payable in stock or cash at the option of each stockholder. The payable date for the distribution is December 27, 2007, the record date is November 20, 2007, and the ex-dividend date is November 16, 2007.
Total distributions by the Company for 2007 will be $1.03, including distributions made prior to today's announcement of $0.15 per share, consisting of $0.14 from investment income and $0.01 from short-term capital gain. For comparison, the Company paid total distributions of $0.90 in 2006, consisting of $0.23 in dividends and $0.67 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
(410) 752-5900 or (800) 638-2479
E-mail: contact@adamsexpress.com
Website: www.adamsexpress.com
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