 |
|
|
|
Reports Performance for the Six Months Ending June 30, 2006
Adams Express Company
Baltimore, July 13, 2006 -- The Board of Directors of The Adams Express Company (NYSE: ADX) today declared a dividend of $.05 per share, payable September 1, 2006, to stockholders of record August 15, 2006.
Performance
For the six months ended June 30th, the total return on Adams Express' net asset value, after adjusting for income dividends and capital gain distributions paid, was 3.6 percent, outperforming the Standard & Poor's Index of 500 Stocks' total return of 2.7 percent for the period, but trailing the 5.0 percent total return of the Dow Jones Industrial Average for the period.
For the twelve months ended June 30, 2006, the total return on Adams Express' net asset value, after adjusting for income dividends as well as capital gain distributions paid, was 6.5 percent. Comparable figures for the Standard & Poor's Index of 500 Stocks and the Dow Jones Industrial Average were 8.6 percent and 11.1 percent, respectively.
Adams Express' net asset value at June 30, 2006, compared with the year earlier, is:
| Net Asset Value |
|
6/30/2006 |
6/30/2005 |
| Net assets |
$1,286,894,336 |
$1,279,265,092 |
| Shares outstanding |
85,116,812 |
84,960,583 |
| Net assets per share |
$15.12* |
$15.06 |
| *After capital gain distribution of $0.02 per share paid in March 2006. |
The net capital gain realized through June 30, 2006, amounted to $0.09 per share.
The Company repurchased 1,040,700 shares of its Common Stock during the six-month period.
Securities Transactions
During the three months ended June 30, 2006, the Company added three new names to its investment list with the additions of The Bank of New York Co., Inc., Caremark Rx Inc., and Harley-Davidson, Inc. The Company increased its holdings in Bank of America Corp., BankAtlantic Bancorp, Inc., Dell Inc., Marathon Oil Co., Morgan Stanley, and Wachovia Corp.
Four issues were eliminated from the investment list with the sales of Black Hills Corp., North Fork Bancorp., Inc., Sapient Corp., and Smurfit-Stone Container Corp. The Company reduced its holdings Aqua America, Inc., Laboratory Corp. of America Holdings, Murphy Oil Corp., and PepsiCo, Inc.
The Adams Express Company is a Baltimore-based closed-end investment company traded on the New York Stock Exchange and Pacific Exchange under the symbol ADX. The Semi-Annual Report is expected to be released on or about July 21, 2006.
View more information on Adams Express Company or other Closed-End Funds
|
©1999-2008 Closed-End Fund Association, Inc. All Rights Reserved
 | | Powered by a SySys® data & content management system. Click here to learn more. |
|
|
|