Ampal Reports $50,000,000 in Investments, Credits; Plans to Expand

The total of investments, loans, cash and credits of AMPAL-American Israel Corporation is now $50,000,000, Abraham Dickenstein, AMPAL president, reported here today at a press conference. He said AMPAL was planning to expand its investments in Israel and intended to build rental apartments.

Mr. Dickenstein also announced that the Israel Development Corporation, an American-registered investment company affiliated with AMPAL American Israel Corporation, will pay $508,000 in dividends to stockholders of record as of November 30, 1959. The dividend this year is at the rate of over five percent per annum, he said. An additional amount of $150,000 will be paid to the holders of the preferred shares of AMPAL-American Israel Corporation as of December 31, 1959.

The Israel American Industrial Development Bank Ltd a subsidiary of AMPAL, is also paying a dividend amounting to $122,400 at the rate of six percent per annum to the holders of its debenture stock, Mr. Dickenstein reported. He said that stockholders in the AMPAL group will receive $780,400 in dividends. The AMPAL group’s investments in Israel include oil exploration; importing, refining, and distribution of oil and oil products; chemical plants; fibreboard manufacturing plants; orange and cotton plantations; rubber and tire manufacturing; and sugar refining. The group is the largest private foreign investor In Zim-Israel Navigation Co. Ltd.

NEXT STORY