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Israel Development Corporation Reportsrecord Interim Earnings

Israel Development Corporation today has announced that both its interim earnings and assets reached all-time highs during the six months ended May 31, 1965. Net income before taxes for the period rose to $402,626, compared with $396,168 for the like period last year. Assets on May 31, 1965 totaled $16,894,331, compared with $14,787,063 a year earlier.

Abraham Dickenstein, IDC president, noted that an increased dividend of 60 cents per share was paid this week to shareholders of record July 7. The 1964 interim dividend was 50 cents a share. Mr. Dickenstein also noted that the company made new investments and loans totaling about $4,000,000 during the recently completed six-month period.