HOUSTON, Feb. 21, 2023 /PRNewswire/ -- Adams Resources & Energy, Inc. (NYSE:AE) ("Adams" or the "Company") today announced that its Board of Directors declared a quarterly cash dividend in the amount of $0.24 per common share for the fourth quarter of 2022, payable on March 24, 2023 to shareholders of record as of close of business on March 10, 2023.

Kevin J. Roycraft, Adams' Chief Executive Officer and President, commented, "We are pleased to declare another regular cash dividend for the benefit of our shareholders. We have consistently paid a dividend for more than 25 years, which is a direct result of our unwavering focus on ensuring the stability of our business and the strength of our corporate financial position."

Adams Resources & Energy, Inc. is engaged in crude oil marketing, transportation, terminalling and storage, tank truck transportation of liquid chemicals and dry bulk, interstate bulk transportation logistics of crude oil, condensate, fuels, oils and other petroleum products and recycling and repurposing of off-specification fuels, lubricants, crude oil and other chemicals through its subsidiaries, GulfMark Energy, Inc., Service Transport Company, Victoria Express Pipeline, LLC, GulfMark Terminals, LLC, Firebird Bulk Carriers, Inc. and Phoenix Oil, Inc. For more information, visit www.adamsresources.com.

Cautionary Statement Regarding Forward-Looking Statements

This news release contains forward-looking statements. Forward-looking statements relate to future events and anticipated results of operations, business strategies, and other aspects of our operations or operating results. In many cases you can identify forward-looking statements by terminology such as "anticipate," "intend," "plan," "project," "estimate," "continue," "potential," "should," "could," "may," "will," "objective," "guidance," "outlook," "effort," "expect," "believe," "predict," "budget," "projection," "goal," "forecast," "target" or similar words. Statements may be forward looking even in the absence of these particular words. Where, in any forward-looking statement, the Company expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, and any other risk factors included in Adams' reports filed with the Securities and Exchange Commission. However, there can be no assurance that such expectation or belief will result or be achieved. Unless legally required, Adams undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Company Contact

Tracy E. Ohmart

EVP, Chief Financial Officer

tohmart@adamsresources.com

(713) 881-3609

Investor Relations Contact

Gary Guyton or Steven Hooser

Three Part Advisors

(214) 442-0016

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SOURCE Adams Resources & Energy, Inc.

ADAMS RESOURCES & ENERGY, INC. ANNOUNCES QUARTERLY CASH DIVIDEND