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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Adams Diversified Equity Fund Inc | NYSE:ADX | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.22 | 1.15% | 19.29 | 19.32 | 19.14 | 19.28 | 212,774 | 01:00:00 |
BALTIMORE, July 10, 2014 /PRNewswire/ -- The Board of Directors of Adams Express (NYSE: ADX) today declared a dividend of $0.05 per share, payable September 2, 2014, to shareholders of record on August 12, 2014. This dividend represents the third payment toward the Fund's annual 6% minimum distribution rate commitment for the year. Details regarding the annual 6% minimum distribution rate commitment can be found at www.adamsexpress.com.
Performance
For the six months ended June 30th, the total return on the Fund's net asset value, with dividends and capital gains reinvested, was 7.3%. Comparable figures for the Standard & Poor's 500 Index (S&P 500) and the Lipper Large-Cap Core Mutual Funds Average (Lipper Peer Group) were 7.1% and 6.4%, respectively. The total return on the Fund's market price was 6.0%.
For the twelve months ended June 30th, the total return on the Fund's net asset value, with dividends and capital gains reinvested, was 24.9%. Comparable figures for the S&P 500 and the Lipper Peer Group were 24.6% and 23.5%, respectively. The total return on the Fund's market price was 22.6%.
Net Asset Value
The Fund's net asset value at June 30, 2014, compared with the year earlier, was:
6/30/14 |
6/30/13 | |
Net assets |
$1,507,502,245 |
$1,272,697,559 |
Shares outstanding |
93,780,557 |
92,687,368 |
Net asset value per share |
$16.07 |
$13.73 |
During the period, the Fund repurchased 466,200 shares of its common stock at an average price per share of $13.17 and a weighted average discount to net asset value of 14.1%.
The Fund realized a net capital gain of $0.64 per share from the securities transactions that it conducted during the six-month period.
The Semi-Annual Report to Shareholders is expected to be released on or about July 18, 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 please contact:
Lawrence L. Hooper, Jr., Vice President, General Counsel and Secretary
410-752-5900 or 800-638-2479
E-mail: contact@adamsexpress.com
Website: www.adamsexpress.com
SOURCE Adams Express Company
Copyright 2014 PR Newswire
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