The first quarterly dividend of $1 per share on the common stock of the Rogosin Industries, payable May 1, 1960, to stockholders of record April 18,1960 was declared by the Board of Directors at their Spring meeting today. I. Rogosin, president of one of the major private American investment ventures in Israel said he felt most gratified that in its first year this enterprise had earned enough in the manufacture of rayon tire fabric to enable it to start paying dividends.
“We have every reason to look forward to greatly enhanced profit this year,” Rogosin asserted. “The first year of getting into production is inevitably the most difficult one, and it is very encouraging that, even during that period, the Corporation was able to operate as profitably as it did. Our gross sales for this coming year are expected to reach $7,500,000 or better,” Careful and thorough advance planning was credited by Mr. Rogosin as having paid off in this investment venture in Israel, and as being essential in inspiring confidence in potential investors.
“By March 1 of this year we increased production of tire fabric and started manufacture and selling of 2,000,000 lbs, of rayon yarn for the textile industry in Israel,” Mr. Rogosin said. “By June 1 the plant will also begin production of 2,500,000 lbs. of nylon for the textile industry.”
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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.
