NEW YORK (Mar. 17)
AMPAL–American Israel Corporation today reported that the company, together with its affiliate Israel Development Corp., made investments and loans in Israel totaling $18,944,976 during the fiscal year ended January 31, 1965.
Gross income of AMPAL and IDC rose from $3,121,475 in fiscal 1963 to $3,160,300, of which the former company’s share was $2,088,428. AMPAL, which has paid a dividend on its preferred shares annually since its formation 23 years ago, has in recent years been paying 30 cents a share, or six cents on its four percent preferred. IDC shareholders received their tenth consecutive annual dividend, $1,25 in cash plus a tax credit of 33 dents a share, the report said.
During the year, the report stated, the corporations also paid out $1,400,000 in interest to their debenture holders and to banks. Net income, after all expenses and U.S. and Israel taxes, was $862,000, compared with $822,882 a year earlier. Combined assets of the two corporations at fiscal year-end stood at close to $45,000,000 compared to $543,000,000 a year earlier. Securities of both corporations, which are held by thousands of shareholders across the U.S., are traded over-the-counter.