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2018 Feb 19

Waha Capital recommends dividend of 15 percent following a robust 2017 net profit

Abu Dhabi, 18 February 2018 – The Board of Directors of Waha Capital PJSC (ADX: WAHA), a leading Abu Dhabi investment company has recommended a cash dividend of 15 fils per share, equivalent to 15 percent of its paid-up capital.

Waha Capital produced a strong operating and financial performance in 2017, and reported a net profit of AED 425.9 million, a rise of 4.6 percent from the previous year.

The company continued to develop its asset management business, attracting investors to its funds, and launching a private debt business. The principal investments and private equity businesses also carried out major deals, acquiring a stake in fintech firm Channel VAS, divesting a healthcare diagnostics company, and agreeing to sell Waha Capital’s stake in National Petroleum Services to NASDAQ-listed National Energy Services Reunited (NESR) in a cash-and-shares transaction.

H.E Hussain Jasim Al Nowais, Chairman of Waha Capital, said: “Waha Capital continues to deliver a strong return on equity for its shareholders, and the company has also consistently provided a robust dividend distribution. In 2017, the company continued to build its asset management business, further diversified its principal investments portfolio with an investment in the fintech sector, and made two divestments that crystalized strong returns. Waha Capital is in a strong position to take advantage of attractive opportunities in all its areas of expertise, while ensuring deals meet our strict criteria on value and risk. At the corporate level, we will maintain our prudent financial management, with a focus on delivering value for our shareholders.”

The dividend recommendation was made at a Board meeting held on February 18 2018. The company’s annual general meeting (AGM) is scheduled to be held on March 25 2018 at 4pm.

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