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ADX

Annual Report 2016

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2017 Mar 23

Waha Capital 2016 AGM approves cash dividend of 20 percent

Abu Dhabi, 23 March 2017 – 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 has shown an ability to adapt and effectively manage risk, which has resulted in the robust financial results we have reported for 2016. Despite a challenging operating environment, with various global economic indicators trending negatively, Waha Capital recorded a solid net profit, which allowed the company to deliver a strong dividend of AED 0.20 per share. The management of Waha Capital has adopted a successful diversification strategy and is firmly focused on prudent financial management. This has enhanced our ability to move forward with our long-term strategy, which aims to create maximum shareholder value. We are committed to taking advantage of high-potential investment opportunities, while implementing a strong risk management framework and maintaining strong performance across our well-balanced investment portfolios.”

Waha Capital PJSC reported a net profit of AED 407.2 million for 2016, representing a 10.5 percent return on average equity.  The company’s Capital Markets division recorded a strong rise in income, with its credit and equities funds continuing to outperform, while key Principal Investments produced solid performances despite an uncertain global economic backdrop.

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 company’s success.

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