Abu Dhabi-based Waha Capital, a leading investment company, approved a cash dividend of 20 per cent for eligible shares at the company’s Annual General Meeting held yesterday (March 23) in the UAE capital.

Hussain Jasim Al Nowais, the company’s chairman, said: “Waha Capital delivered impressive results in 2015, thanks to an increasingly diversified portfolio of investments, which performed well despite the challenging global markets backdrop.”

“The company’s financial strength, and in particular our very healthy cash position, has allowed the company to allocate a dividend of Dh0.20 ($0.054) per share, which is highly competitive in the current environment. The company remains focused on building shareholder value, by investing prudently in high potential areas of the regional economy.”

Waha Capital reported a 2015 net profit of Dh588 million ($160 million), driven by key investments in the aircraft leasing and consumer finance sectors, as well as a strong performance by the company’s capital markets portfolios. This represented a return on equity of 14.3 per cent, which is one of the highest figures achieved for 2015 by a publicly listed company in the region.

During the Annual General Meeting, shareholders approved amending the Company’s Articles of Association to comply with the new Commercial Companies Law, subject to obtaining regulatory approval. – TradeArabia News Service