The Banking Executive Magazine - March 2022 Issue

Waha Capital Shareholders Waha Capital Shareholders APPROVE 2021 DIVIDEND DISTRIBUTION AT ANNUAL GENERAL MEETING Shareholders of Waha Capital, an Abu Dhabi-listed investment man- agement company, approved a cash dividend of 7.55 fils per share and a stock dividend of 2.45%, at the Com- pany’s annual general meeting (AGM), which was held on March 28, 2022. Waleed Al Mokarrab Al Muhairi, Chairman of Waha Capital, com- mented: “Waha Capital continues to demonstrate strong financial and op- erating performance, which was re- flected 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 pru- dent as we steer the company through the next phase of its devel- opment. The Board will continue to support Waha Capital’s growth strat- egy as it pursues investment oppor- tunities that can deliver compelling long-term returns to our sharehold- ers.” Waha Capital’s Public Markets busi- ness which reached AED 4.4 billion (US$1.2 billion) of assets under man- agement (AUM) in 2021, recorded investment gains and fee income of AED 902 million and a net profit of AED 603 million with the MENA Eq- uity 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 port- folios 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. the BANKING EXECUTIVE 34 ISSUE 159 MARCH 2022