Ampal-American Israel Corporation declares special dividends.NEW YORK--(BUSINESS WIRE)--Nov. 21, 1995--On November 21, 1995, the Board of Directors of Ampal-American Israel Corporation met and declared special cash dividends as follows: -- $0.21 per share on the Class A Stock, par value $1.00 per share (AMEX AMEX See: American Stock Exchange : AIS.A) -- $0.85 per share on the 4% Cumulative Convertible Participating Preferred Stock Participating Preferred Stock A type of preferred stock that, under certain conditions, gives holders the right to receive earnings payouts over and above the specified dividend rate. , par value $5.00 per share (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). - no ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors ) -- $0.21 per share on the Common Stock, par value $1.00 per share (privately held by Bank Hapoalim B.M.) Each of the dividends is payable on December 28, 1995 to sharehold- ers of record at the close of business on December 15, 1995. These dividends are in addition to the previously declared annual cash dividends of $.325 and $.20 per share on the 6 1/2% Cumulative Convertible Preferred Stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". , par value $5.00 per share (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : AMPLP) and the 4% Cumulative Convertible Participating Preferred Stock, respectively, that are payable on December 28, 1995 to shareholders of record at the close of business on November 16, 1995. Each share of 4% Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. and 6 1/2% Preferred Stock is convertible into 5 shares and 3 shares, respectively, of Ampal's Class A Stock. Holders of the 6 1/2% Preferred Stock, a non-participating security, may become eligible to receive the dividend on the Class A Stock by converting into Class A Stock on a timely basis. As of September 30, 1995, Ampal's outstanding capital stock was as follows: 20,511,822 shares of Class A Stock, 3,000,000 shares of Common Stock, 201,066 shares of 4% Cumulative Convertible Partici- pating Preferred Stock, and 1,078,429 shares of 6 1/2% Preferred Cumulative Convertible Preferred Stock. In addition, there are outstanding 4,500,000 warrants to purchase Class A Stock at $16.00 per share. Ampal and its subsidiaries acquire interests in businesses located in the State of Israel or that are Israel-related. An important objective of Ampal is to make investments in companies which take advantage of growth in Israel's domestic economy. Ampal and its subsidiaries have diversified interests in the following sectors: hotels and leisure-time, real estate, energy distribution, basic industry, high technology and communications, as well as others. CONTACT: Lawrence Lefkowitz President 212/782-2100 |
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