CMH distributes solid dividends to investors
Manama, February 13, 2012
Bahrain-based Islamic investment bank Capital Management House (CMH) has distributed quarterly dividends, calculated at 10 per cent per annum, to its GCC investors of CMH Aircraft Leasing Investment Company for the fourth quarter of 2011.
'We are delighted to have delivered solid dividends for four consecutive quarters to investors from across the GCC that participated in our aviation leasing company,' said CMH chief investment officer Mohamed Aljasim.
'Our focus is on investments with significant growth potential but importantly those that are also income yielding.
'At the end of 2010, we identified aviation and the leasing sub-segment, in particular, as areas of opportunity and concluded a successful transaction that enabled CMH to realise strong gains and create a steady stream of income for the bank and our investors throughout 2011.'
CMH is also exploring further attractive opportunities in this sector.
CMH's aircraft leasing company was created in January 2011 and has been structured around a transaction concluded with Emirates Airlines, which consists of the acquisition of a Boeing 777-200ER aircraft from the airline and an agreement whereby it has been leased back to Emirates.
The deal, which was undertaken in partnership with Novus Aviation and Muzun Partner, builds on opportunities in the regional aviation sector, which has shown to be resilient, and on the leasing sub-segment where strong returns can be achieved and where further growth, both in absolute and relative terms, is expected to continue in light of the Middle East's position as one of the fastest growing travel hubs in the world.-TradeArabia News Service