Waha Capital shareholders approved a cash dividend of 10 fils per share during the company’s Annual General Meeting on 18 March. During the AGM, they also authorised the Abu Dhabi-based investment company to allocate up to 1 per cent of its net profit to corporate social responsibility (CSR) initiatives.
Waha Capital introduced a scholarship program for UAE-based students in finance, mathematics, and economics, offering full financial support and career opportunities, among a number of other commitments to support communities.
Waha Capital reports strong FY2024
In FY2024, the company reported a net profit of AED381 million ($103.75 million) attributable to shareholders, representing a 10 per cent return on average equity. Total assets under management for the company stood at AED11.9 billion ($3.24 billion) at the end of 2024, a 13 per cent increase from AED10.5 billion ($2.86 billion) in 2023.
Waleed Al Mokarrab Al Muhairi, Chairman of Waha Capital, commented: “The approval of a 10 fils per share dividend for 2024 underscores Waha Capital’s commitment to delivering consistent value to our shareholders.
“The company’s strong results in 2024 are a testament to its effective investment strategy that adeptly navigated global market volatility. With a rapidly expanding third-party investor base and robust performance across our business pillars, we continue to reaffirm our position as a trusted financial partner in Abu Dhabi and beyond.”
Mohamed Hussain Al Nowais, Managing Director of Waha Capital, added: “Waha Capital delivered strong performance in 2024, driven by a resilient investment strategy and sustained growth across our business verticals. Our progressive dividend policy represents a commitment to delivering consistent shareholder returns by increasing assets under management and increasing sources of recurring revenue.
“Looking ahead, we will continue to pursue high-growth opportunities, expand our asset management portfolio, and reinforce Waha Capital’s position as a gateway to Abu Dhabi’s thriving economy.”
Founded in 1997, Waha Capital leverages its emerging markets expertise, business networks and research capabilities to deliver attractive returns to shareholders and investors in its funds. Mubadala Investment is an anchor shareholder in the company.
The company has a long-established track record of investing in public and private markets, deploying proprietary capital in alignment with third-party investors. Its Waha Land business develops and leases industrial and logistics facilities at ALMARKAZ in Abu Dhabi’s Al Dhafra region, strategically leveraging the UAE’s expanding industrial infrastructure to grow its institutional-grade asset.
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