NEW YORK (Jan. 1)
A regular cash dividend for 1961 of $1,25 per share of $25 par value common stock was declared today by the board of directors of Palestine Economic Corporation, New York, payable on February 28, 1962, to stockholders of record on December 29, 1961. Per share earnings in 1961 amounted to $1,46, as compared with $1, 43 in 1960. The five percent dividend for 1961 equals the one declared for the previous year.
Common stock of PEC outstanding now totals some 611, 000 shared held by over 11, 000 stockholders throughout the United States, The company is presently selling an issue of 120, 000 shares of common stock at $25 per share, under a prospectus recently issued.