Directors of PEC Israel Economic Corporation, have declared a five percent dividend for the year 1963, payable on Feb. 28, 1964 to stockholders of record as of January 2, 1964, it was announced today. A similar dividend was paid for 1962. PEC had 733,774 shares of common stock outstanding on Dec. 1, 1963, held by about 12,000 stockholders throughout the United States.
Col. John Furman, president of the 38-year-old company, said that indicated earnings for 1963 were approximately 10 percent in excess of last year. PEC is the oldest and largest American investment company exclusively using its funds for private investment in Israel ventures. New investments made by PEC in 1963 in industry, tourist trade, urban development and other areas totaled approximately $2,500,000. Funds earmarked for investment in 1964 amount to $2,000,000 at this time, and may actually reach $3,000,000 by the end of the year, Col. Furman said.
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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.
