Business & Finance
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Business and Finance
Thu, December 8, 2011
Wed, December 7, 2011 Petroleum & Resources Corporation Announces Issue Price of Shares for Year-End Distribution Payable December 27, 2011
Petroleum & Resources Corporation Announces Issue Price of Shares for Year-End Distribution Payable... -- BALTIMORE, Dec. 7, 2011 /PRNewswire/ --
Petroleum & Resources Corporation Announces Issue Price of Shares for Year-End Distribution Payable December 27, 2011
BALTIMORE, Dec. 7, 2011 /PRNewswire/ -- The price at which Petroleum & Resources Corporation (NYSE: [ PEO ]) common stock will be issued in payment of the $1.67 year-end distribution, made up of $0.15 income dividend and $1.52 realized capital gains, to stockholders who have elected to receive the distribution in stock, payable December 27, 2011, is $24.81 per share. This price is the mean between today's high and low sales prices of the Corporation's stock on the New York Stock Exchange.
The Corporation has paid out capital gains to its stockholders for 60 consecutive years and has paid dividends for 77 consecutive years.
Petroleum & Resources Corporation is a Baltimore-based closed-end investment company.
For further information please contact:
Douglas G. Ober, Chairman, Chief Executive Officer and President
Lawrence L. Hooper, Jr., Vice President, General Counsel and Secretary
(410) 752-5900 or (800) 638-2479
email: [ contact@peteres.com ]
website: [ www.peteres.com ]
SOURCE Petroleum & Resources Corporation
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