CMH distributes dividend to investors
Manama, May 14, 2012
Capital Management House (CMH) said it has distributed the regular quarterly dividend, calculated at 10 per cent per annum, to investors of the bank's Aircraft Leasing Investment Company for the first quarter of the year.
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.
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, according to a top official.
'We are again pleased to announce another quarter of solid dividends for investors in Capital Management House's aviation leasing company,' said chief investment officer Mohamed Aljasim.
'This investment continues to generate healthy returns for the bank and our co-investors. The aviation sector is a growth industry with great potential and we are pleased to have been able to capitalise on that growth,' remarked Aljasim.
'We continue to look for opportunities in this sector and others that will enable us to acquire assets that are both income-yielding and provide for medium to long-term upside potential,' he added.-TradeArabia News Service