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Waha Capital is continuously striving to deliver the highest level of corporate communication practices

2016 Mar 24

Waha Capital AGM approves cash dividend of 20 percent

Abu Dhabi, 24 March 2016 – Shareholders of Waha Capital PJSC (ADX: WAHA), a leading investment company based in Abu Dhabi, approved a cash dividend of 20 percent for eligible shares at the company’s Annual General Meeting held on Wednesday and chaired by H.E. Hussain Jasim Al Nowais, the company’s Chairman.

Addressing shareholders, Al Nowais 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 AED 0.20 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 AED 588 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 percent, which is one of the highest figures achieved for 2015 by a publicly listed company in the region.

Waha Capital is focused on continuing to drive growth in the business and is committing additional capital to expand its principal investments. The company has also launched an asset management platform, which is offering investors access to high potential regional capital markets and private equity opportunities and is also investing significant seed capital in these new funds.

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.

Al Nowais concluded the meeting by thanking the leadership of Abu Dhabi, represented by His Highness Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE and His Highness General Sheikh Mohammed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces and Chairman of the Abu Dhabi Executive Council, for their unstinting support to all national companies.

He also thanked the company’s shareholders, partners, clients, Board members, management team and staff for their continuing commitment and contribution to the group's success.

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