Abu Dhabi: Waha Capital shareholders approved a cash dividend of 20 per cent for eligible shares at the company’s Annual General Meeting held on Wednesday, the company said on Thursday.
Listed on Abu Dhabi Stock Exchange, the company’s portfolio consists of direct investments across a number of sectors which include aircraft leasing, health care, consumer finance, offshore oil & gas services, infrastructure and industrial real estate.
Addressing shareholders, Hussain Jasem Al Nowais, the company’s Chairman said: “Despite a challenging operating environment, with various global economic indicators trending negatively, Waha Capital recorded a solid net profit, which allowed the company to deliver a strong dividend of Dh0.20 per share.”
“The management of Waha Capital has adopted a successful diversification strategy and is firmly focused on prudent financial management. This has enhanced our ability to move forward with our long-term strategy, which aims to create maximum shareholder value.”
Waha Capital reported a net profit of Dh407.2 million for 2016, a 31 per cent decline from Dh587.8 million in 2015. Total income grew, however, to reach Dh1.16 billion in 2016 — a six per cent increase over the Dh1.1 billion recorded in 2015.
Meanwhile, the company is in talks with potential partners in Saudi Arabia as it looks to diversify investment in some key sectors outside the UAE, a Reuters report said quoting the Chairman.
