The board of directors of Israel Development Corporation, a related corporation of Ampal, today voted to declare a dividend of $1 per share on the common stock of that corporation. The total dividends to be paid out will amount to $400, 000. President Abraham Dickenstein expressed the hope that Ampal would be able to declare its 17th consecutive dividend–this time of 25 cents per share on $5 par value.
The Ampal group, composed of Ampal-American Israel Corporation, Israel Development Corporation and Israel-American Industrial Development Bank Ltd. would pay out close to $700, 000 in dividends for the current fiscal year, Mr. Dickenstein said. Total gross assets of the Ampal group had risen from less than $2, 000, 000 in 1948 to nearly $40,000,000 in 1958. he reported. Capital and surplus had been increased from $1, 600, 000 to over $16, 000,000, during that period. Almost $23, 000, 000 worth of securities had been marketed during these ten years.
The outstanding balances of the Ampal group long-term credits and equity investments in Israel had risen from less than $1, 800, 000 in 1948 to nearly $35, 000, 000 in 1958. The group’s credit lines with American banks and manufacturers had risen from $270,000 to over $12, 500, 000 in ten years. The net profits of the corporations before taxes derived from interest, dividends and commissions had amounted to close to $7, 000, 000 during the decade, of which about $2,500, 000 had been paid out in dividends to the stockholders of the Ampal group.
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.
