Waha Capital Shareholders Approve 2021 Dividend Distribution at Annual General Meeting

Shareholders of Waha Capital PJSC (ADX: WAHA), an Abu Dhabi-listed investment management company, approved a cash dividend of 7.55 fils per share and a stock dividend of 2.45%, at the Company’s annual general meeting (AGM), which was held on March 28, 2022.

Waleed Al Mokarrab Al Muhairi, Chairman of Waha Capital, commented: “Waha Capital continues to demonstrate strong financial and operating performance, which was reflected in the significant increase to our net profit for 2021. Based on these results, the Board proposed a cash dividend of 7.55 fils per share and a stock dividend of 2.45%, which has now been approved by shareholders. Due to the ongoing challenges in the macroeconomic environment, we will remain prudent as we steer the company through the next phase of its development. The Board will continue to support Waha Capital’s growth strategy as it pursues investment opportunities that can deliver compelling long-term returns to our shareholders.”

Waha Capital’s Public Markets business which reached AED 4.4 billion (US$1.2 billion) of assets under management (AUM) in 2021, recorded investment gains and fee income of AED 902 million and a net profit of AED 603 million with the MENA Equity Fund yielding a total return of 32.8%, the CEEMEA Credit Fund of 7.2% and the Islamic Income Fund of 9.7%. The Private Investments business began activating its new long-term, multi-asset investment strategy in the final quarter of 2021, deploying capital globally through its Global Opportunities and Core portfolios and driving value-creation for its Legacy portfolio. Waha Capital had total assets of AED 5.8 billion as at 31 December 2021, compared to AED 5.1 billion in 2020.