Adams Express Is Committed to Staying a Closed-end Fund

Date: 
12/23/2009

Recent articles in the online press have implied that the Board of Directors of Adams Express is actively considering converting the Fund to an ETF. This is not correct - - no such plan is on the drawing boards. As Doug Ober, Chairman and CEO, has pointed out to the publications, while we are keeping tabs on what is going on in the fund industry for new and innovative ideas, as any prudent investment manager would do, we remain committed to our closed-end fund structure. We strongly believe that it has been a key contributor to our long-term investment strategy, long history of distributing dividends and capital gains, and low expenses.

Adams Express Is Committed to Staying a Closed-end Fund

Stock and Distribution

Nav & Stock Price Per Share
Net Asset Value: $ 11.95
Closing Price:

$ 10.27

Discount: -14.1%

This is the closing price from the NYSE on 05/22/2012.

annual DISTRIBUTION Rate
2011 6.1%
5-Year Average 5.8%

The annual distribution rate is the total dividends and capital gain distributions during the year divided by the average month-end market price of the Company's Common Stock for the calendar year in years prior to 2011 and for the 12 months ended October 31 in 2011.  As of September 8, 2011, the Board of Directors committed to an annual distribution rate of at least 6%.