| Petroleum & Resources Fund Declares Year-End Distribution; Exceeds Its Annual 6% Minimum Distribution Rate Commitment | |
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BALTIMORE, Nov. 13, 2014 /PRNewswire/ -- Petroleum & Resources (PEO) declared today a year-end distribution of $1.59 per share. The total distributions by the Fund for 2014 will be $1.89, including the distributions of $0.30 per share made prior to today's announcement. The annual distribution rate represented by these distributions is 6.6%. The year-end distribution consists of the following: - $1.30 per share from net capital gains realized during 2014, comprised of $0.10 short-term and $1.20 long-term capital gain; and
- $0.29 per share from 2014 net investment income.
This marks the 63rd consecutive year that the Fund has paid out capital gains and the 80th consecutive year it has paid out dividends to its shareholders. Commenting on the year-end distribution, Mark E. Stoeckle, CEO of Petroleum & Resources, said: "The commitment we have made to our shareholders is to distribute each year an amount equal to at least 6% of the Fund's trailing 12-month average month-end market price. This year, we will pay out distributions at an annual rate of 6.6%. We are very proud of our long history of providing dividend income and capital gains to our shareholders and this year's distributions add to that exceptional track record." The payable date for the distribution is December 23, 2014, the record date is November 24, 2014, and the ex-dividend date is November 20, 2014. Both payments are payable in stock or cash at the option of each shareholder. Details regarding the annual 6% minimum distribution rate can be found at www.peteres.com. Petroleum & Resources is a Baltimore-based closed-end fund that has been operating as an investment company since 1929. Its stock trades on the New York Stock Exchange under the ticker symbol PEO. For further information, contact: Lawrence L. Hooper, Jr., Vice President, General Counsel & Secretary at (410) 752-5900 or (800) 638-2479 E-Mail: contact@peteres.com Website: www.peteres.com
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Petroleum & Resources Corp.
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CODE : PEO |
ISIN : US7165491009 |
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Petroleum & Resources est une société basée aux Etats-Unis D'Amerique. Petroleum & Resources est cotée aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 673,3 millions US$ (619,9 millions €). La valeur de son action a atteint son plus bas niveau récent le 31 décembre 1987 à 0,95 US$, et son plus haut niveau récent le 20 mai 2024 à 23,60 US$. Petroleum & Resources possède 28 530 000 actions en circulation. |