The Adams Express Company Declares Dividend and Reports Performance for the First Half of 2011

BALTIMORE, July 14, 2011 /PRNewswire/ -- The Board of Directors of The Adams Express Company (NYSE: ADX) today declared a dividend of $0.05 per share, payable September 1, 2011, to stockholders of record on August 12, 2011, and announced its performance for the first half of 2011.

Performance

For the six months ended June 30th, the total return on Adams Express' net asset value, with dividends and capital gains reinvested, was 2.8%. Comparable figures for the Standard & Poor's 500 Index (S&P 500) and the Lipper Large-Cap Core Mutual Funds Average were 6.0% and 5.2%, respectively. The total return on Adams Express' market value was 4.8%.

For the twelve months ended June 30th, the total return on Adams Express' net asset value, with dividends and capital gains reinvested, was 25.8%.  Comparable figures for the S&P 500 and the Lipper Large-Cap Core Mutual Funds Average were 30.7% and 28.6%, respectively. The total return on Adams Express' market value was 29.4%.

For the twelve months ended June 30th, the annual distribution rate of dividends and capital gains that the Company has paid out to stockholders, calculated as a percentage of the average daily market price of the Company's stock during the period, was 4.8%.

Adams Express' net asset value at June 30, 2011, compared with the year earlier, was:

The net capital gains realized through June 30, 2011, were $0.15 per share.

Securities Transactions

During the three months ended June 30, 2011, Adams Express added five new names to its investment portfolio through the purchases of Air Products and Chemicals, Inc., Cognizant Technology Solutions Group, F5 Networks, Inc., Marriott International Inc., and Peabody Energy Corp. The Company increased its holdings in ADTRAN, Apple, Avon Products, Freeport-McMoRan Copper & Gold, National Oilwell Varco, and Potash Corp.

In addition, the Company eliminated two holdings from its investment portfolio with the sales of Mead Johnson Nutrition Co. and Oshkosh Corp., and reduced its holdings in Abbott Laboratories, Bunge, Curtiss-Wright, General Electric, MDU Resources, Microsoft, PepsiCo, Praxair, Safeway, Transocean, Unilever, UnitedHealth Group, and United Technologies.

The Semi-Annual Report to Stockholders is expected to be released on or about July 22, 2011.  

The Adams Express Company is a Baltimore-based closed-end investment company traded on the New York Stock Exchange under the symbol ADX.

For further information please contact:

Lawrence L. Hooper, Jr., Vice President, General Counsel and Secretary
410-752-5900 or 800-638-2479
E-mail: [email protected]
Website: www.adamsexpress.com

SOURCE Adams Express Company

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