Dr. Y. Foerder, chairman of Bank Leumi le-Israel, Israel’s oldest and largest commercial bank, with a branch in New York, announced today that the board of directors has voted to increase the cash dividend to 14 percent for 1965, compared with 12 and a half percent paid in previous years.
The raised dividend resulted after declaration of a cash dividend of 8 percent, to be paid May 12, 1966, to stockholders of record April 20, 1966. The bank announced that the dividends are subject to Israel’s 25 percent income tax. This may be taken into account by stockholders in computing their U.S. income tax.
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The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
