Abu Dhabi – Mubasher: The shareholders of Waha Capital approved the distribution of a cash dividend of 10 fils per share, on 26 March 2024, for 2023.

The dividend includes a 1.50 fils per share special dividend, according to a press release.

At the annual general meeting (AGM), the shareholders also authorised the company to contribute up to 1% of 2023 net profit towards corporate social responsibility (CSR)initiatives.

Waleed Al Mokarrab Al Muhairi, Chairman of Waha Capital, said: “Despite economic challenges and market fluctuations, Waha Capital demonstrated its resilience last year, delivering robust financial results and strong operational performance.”

“The board remains steadfast in its commitment to deliver long-term value for shareholders and will continue to empower the management team to pursue opportunities that can accelerate the company’s growth and development,” Al Muhairi continued.

The ADX-listed firm registered a net profit of AED 440 million in 2023, marking a 28% year-on-year (YoY) increase.

Waha Investment, the company’s wholly-owned asset management subsidiary, generated solid revenues, recording a net profit of AED 639 million.

Meanwhile, its assets under management (AUM) reached AED 8.80 billion following substantial new third-party capital commitments.

In addition, Waha Land achieved nearly full occupancy for its built assets, logging net profits valued at AED 44 million.