ABU DHABI - Shareholders of Waha Capital has announced approving a cash dividend of 8 fils per share for the 2022 financial year at the company’s annual general meeting (AGM), which was held on 21st March 2023.

At the AGM, shareholders also authorised the company to contribute up to 1% of its net profit for the financial year ended 31st December 2022 towards CSR initiatives.

Waleed Al Mokarrab Al Muhairi, Chairman of Waha Capital, commented, “Following the results achieved in 2022, and as part of our commitment to deliver value to investors, the Board proposed a dividend of 8 fils per share, which shareholders have now approved.”

“While we continue to navigate a challenging macroeconomic landscape, we will remain prudent and focused on steering Waha Capital through the next phase of its growth and development. Our Board of Directors fully supports Waha Capital’s growth strategy, which prioritises investment opportunities that can generate compelling returns for shareholders.”

Waha Capital reported a net profit of AED449 million in 2022. The Public Markets business continued to generate strong revenues as its flagship equity and credit funds outperformed benchmarks amidst challenging market conditions. The Private Investments business recorded robust returns from its Global opportunities investment strategy and through the monetisation of mature assets. Waha Land achieved stable rental returns and agreed on a landmark transaction to divest assets at its ALMARKAZ light industrial development site.