Fund Companies Rights Offerings Managed Distributions Leveraged Funds IPOs Asset Classes CEF Advisors

My Fund Comparison
Initilizing list...

The Adams Express Company Declares Dividend and Reports Performance For The First Half of 2012
Adams Express Company

BALTIMORE, July 12, 2012 /PRNewswire via COMTEX/ -- The Board of Directors of The Adams Express Company ADX -0.23% today declared a dividend of $0.05 per share, payable September 1, 2012, to stockholders of record on August 10, 2012. This dividend represents the third payment this year towards the Company's 6% minimum distribution commitment for the year.

Performance

For the six months ended June 30th, the total return on Adams Express' net asset value, with dividends and capital gains reinvested, was 8.0%. Comparable figures for the Standard & Poor's 500 Index (S&P 500) and the Lipper Large-Cap Core Mutual Funds Average were 9.5% and 8.0%, respectively. The total return on Adams Express' market value was 10.5%.

For the twelve months ended June 30th, the total return on Adams Express' net asset value, with dividends and capital gains reinvested, was 2.2%. Comparable figures for the S&P 500 and the Lipper Large-Cap Core Mutual Funds Average were 5.5% and 1.9%, respectively. The total return on Adams Express' market value was 1.0%.

Adams Express' net asset value at June 30, 2012, compared with the year earlier, was:

                                            Net Asset Value
                             6/30/12                        6/30/11
        Net assets           $1,125,291,245                 $1,146,496,552
        Shares outstanding   91,106,318                     88,920,404
        Net assets per share $12.35                         $12.89
        


The net capital gains realized through June 30, 2012, were $0.21 per share.

Securities Transactions

During the three months ended June 30, 2012, Adams Express added six new names to its investment portfolio through the purchases of Amerigroup Corp. (health care), Anadarko Petroleum Corp. (energy), Eaton Corp. (industrials), Facebook, Inc. (social media) (subsequently sold during the quarter), Hancock Holding Co. (banking), and Noble Corp. (energy). The Company increased its holdings in Affiliated Managers Group, Apple, AT&T, AXIS Capital, Cognizant, Diageo, Digital Realty Trust, Express Scripts, General Electric, Goodrich, Kansas City Southern, McKesson, NiSource, Terex, United Technologies, and Verizon Communications.

In addition, the Company eliminated two holdings from its investment portfolio with the sales of Old Dominion Freight Line, Inc. and Facebook, Inc. The Company reduced its holdings in BorgWarner, Capital One, Caterpillar, Chevron, Cliffs Natural Resources, Coca-Cola, Emerson Electric, Exxon Mobil., F5 Networks, Freeport-McMoRan, Johnson & Johnson, Northeast Utilities, Peabody Energy, PepsiCo, Ryland, Seadrill Ltd., T. Rowe Price, Tech Resources, Unilever, Walt Disney, and Wells Fargo.

The Semi-Annual Report to Stockholders is expected to be released on or about July 20, 2012.


Image Map

Resources

Aberdeen Webcasts

CEF Connect

Bonds

National Association of
Publicly Traded Partnerships


REITs


SySys Logo

Lipper Logo
Powered by a SySys data & content management system.

©Thomson Reuters 2011. All rights reserved. Any copying, republication or redistribution of Lipper, a Thomson Reuters company, content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Lipper, a Thomson Reuters company. Lipper, a Thomson Reuters company shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.