CMH distributes first dividends
Manama, May 15, 2011
Capital Management House (CMH), the Bahrain based investment bank, distributed its first dividends to investors of its aircraft leasing investment fund.
Early investors in the fund, which was established in partnership with Novus Aviation and Muzun Partner, have received the first payment calculated at 10 per cent per annum for the period ending 31 March 2011. Subsequent distributions will be made on a quarterly basis.
The fund has been structured around a transaction with Emirates Airlines, consisting of the acquisition of a Boeing 777-200ER aircraft from the airline and an agreement whereby it will be leased back to Emirates for a six-year period.
The fund is now being offered to additional investors across the region.
“The fund and our existing investment in the Boeing 777-200ER airliner acquired and leased back to Emirates has affirmed our strategy that acquiring income yielding assets not only provides the bank and our investors with strong potential for capital appreciation over time but, importantly, ensures a recurring and sustained stream of income,” stated Khalid M. Najibi, managing director of CMH.-TradeArabia News Service
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