The Adams Express Fund Reports Nine-Month Results

BALTIMORE, Oct. 9, 2014 /PRNewswire/ -- The Adams Express Company (NYSE: ADX) today announced the Fund's results for the nine months ended September 30, 2014. The Fund outperformed both its benchmark and Lipper peer group during the period. The total return on the Fund's net asset value, with dividends and capital gains reinvested, was 9.2%.  Comparable figures for the Standard & Poor's 500 Composite Stock Index ("S&P 500") and the Lipper Large-Cap Core Mutual Fund Average ("Lipper Peer Group") were 8.3% and 6.7%, respectively. The total return on the Fund's market price was 7.8%.

The Fund also outperformed its benchmark and the Lipper Peer Group for the twelve months ended September 30, 2014, generating a total return on net asset value, with dividends and capital gains reinvested, of 20.6%.  Comparable figures for the S&P 500 and the Lipper Peer Group were 19.7% and 17.4%, respectively.  The total return on the Fund's market price was 20.0%.

Net Asset Value

The Fund's net asset value at September 30, 2014, compared with the year earlier, was: 

During the period, the Fund repurchased 741,600 shares of its common stock at an average price per share of $13.47 and a weighted average discount to net asset value of 14.2%, resulting in a $0.02 increase to NAV per share.

The Fund realized a net capital gain of $0.71 per share from the securities transactions that it conducted during the period.

Adams Express has committed to pay out distributions to its shareholders at an annual 6% minimum distribution rate, based on the trailing 12-month average market price.  Details regarding the annual 6% minimum distribution rate can be found at www.adamsexpress.com.               

The Third Quarter Report is expected to be released on or about October 17, 2014.

The Adams Express Company is a Baltimore-based closed-end fund that has been operating as an investment company since 1929. Its stock trades on the New York Stock Exchange under the symbol ADX.

For further information, contact:
Lawrence L. Hooper, Jr., Vice President, General Counsel & Secretary
at (410) 752-5900 or (800) 638-2479
E-mail: [email protected]   
Website: www.adamsexpress.com

SOURCE The Adams Express Company

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