The resumption of dividends was announced today by the Palestine Economic Corporation, following a meeting of its board of directors yesterday at which it was decided to pay a $4.00 dividend per share on the corporation’s common stock.
Robert Szold, chairman of the Board, in making the announcement declared. “We discontinued dividends at the outbreak of the war because of the uncertainty of conditions, and because we felt it prudent to plough back any earnings. The vitality of the economic structure of Palestine has made comparatively easy the transition to peacetime operations. Our subsidiaries in Palestine are in sound condition.”
The Palestine Economic Corporation is the largest American business enterprise in Palestine, with capital, surplus and reserves in excess of $4,000,000. The corporation was founded in 1925 by Justice Louis D. Brandis, Judge Julian W. Mack, Lix M. Warburg, Herbert H. Lehman, Bernard Flexner and others, “to give material aid on a strictly business basis to productive Palestinian enterprises, thereby furthering the economic development of the Holy Land and the resettlement there of an increasing number of Jews.”
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.
