Adams Express Co. (ADX) Declares $0.05 Dividend
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Adams Express Co. (NYSE: ADX) declared a dividend of $0.05 per share consisting of $0.03 net investment income, $0.01 short-term capital gain, and $0.01 long-term capital gain, all realized in 2011.
The dividend will be payable on March 1, 2012, to stockholders of record on February 10, 2012, with an ex-dividend date of February 8, 2012.
Commenting on this dividend, Douglas G. Ober, Chairman and CEO of Adams Express, said: "This dividend is the first installment of the Company's distributions to stockholders this year, which for the year will be an amount equal to at least 6% of the Company's trailing 12-month average month-end market price. We have a long history of providing attractive distributions of dividend income and capital gains to our stockholders and our commitment to distribute at least 6% provides a more predictable level of cash distributions coupled with the opportunity for capital appreciation. We think this should be appealing to investors in today's volatile market and low interest rate environment."
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The dividend will be payable on March 1, 2012, to stockholders of record on February 10, 2012, with an ex-dividend date of February 8, 2012.
Commenting on this dividend, Douglas G. Ober, Chairman and CEO of Adams Express, said: "This dividend is the first installment of the Company's distributions to stockholders this year, which for the year will be an amount equal to at least 6% of the Company's trailing 12-month average month-end market price. We have a long history of providing attractive distributions of dividend income and capital gains to our stockholders and our commitment to distribute at least 6% provides a more predictable level of cash distributions coupled with the opportunity for capital appreciation. We think this should be appealing to investors in today's volatile market and low interest rate environment."
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