NEW YORK (Nov. 18)
More than 1,500 stockholders and investors attended the 22nd annual meeting of the AMPAL Group of Corporations, at the Waldorf Astoria Hotel this weekend, at which A. Dickenstein, president of AMPAL, reported on the financing and investment program undertaken by this largest American group of private investors in Israel.
Mr. Dickenetein announced that dividend payments amounting to $1,100,000 would shortly be mailed out to stockholders of AMPAL-American Israel Corporation (its 22nd annual dividend) in Israel Development Corporation (11th consecutive dividend) and in the Israel American Industrial Development Bank.
During the first nine months of the current fiscal year, Mr. Dickenstein said, the AMPAL Group had executed investments and new financing in an amount of close to $17,000,000 which would be increased to $20,000,000 by the end of the current fiscal year. Transactions included investments in and loans to manufacturing plants of industrial ceramic, rubber, metal and chemical products in Israel. Mr. Dickenstein also announced a program of $16,000,000 of new investments in and loans to merchant shipping, manufacture of citrus by-products, real estate development and industry, to be implemented in Israel during the next two years.