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Petroleum & Resources, Adams Express announce 1st half of 2011 results

Petroleum & Resources Corp. and The Adams Express Co., sister closed-end investment companies based in Baltimore, announced results for the first half of 2011.

P&R said the total return on its net asset value, with dividends and capital gains reinvested, was 10.4 percent. The share price rose to $33.70 cents on June 30, 2011, from $22.90 a year earlier. Total return on Adams Express’ NAV was 2.8 percent. The share price on June 30, 2011 was $12.89, compared to $10.75 per share on the same day in 2010.

The S&P 500 Index recorded a 6 percent gain for the first half of 2011.

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