A stockholders meeting of Israel Industrial and Mineral Development Corporation, leading U.S. company of American investors in Israel enterprises voted last night to double the capitalization of the corporation by registration of a new $5 million issue of common stock at $25 par value per share. Stockholders also voted a 4;1 split of previous $100 par value stock issue. New investments in Israel totaling nearly five million dollars, in merchant shipping, citrus, sugar, and the manufacture of fiberboard, were announced at the meeting by president Abraham Dickenstein.
The Israel Industrial and Mineral Development Corporation, which started activities in 1953, also declared its first dividend of $3.00 per share on the common stock. The corporation was formed by Ampal-American Israel Corporation, and holds stock in a variety of maritime, industrial and agricultural enterprises in Israel.
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