Waha Capital Shareholders Endorse 2024 Dividend Distribution And CSR Initiatives

Waha Capital's shareholders have approved a cash dividend of 10 fils per share at the company's Annual General Meeting. This decision reflects the company's dedication to providing consistent value to its investors. Additionally, shareholders have endorsed allocating up to 1% of net profit for corporate social responsibility initiatives, highlighting Waha Capital's commitment to community support.

Waha Capital has also launched a scholarship programme aimed at UAE-based students pursuing studies in finance, mathematics, and economics. This initiative offers full financial support and career opportunities, demonstrating the company's investment in future talent. The programme is part of Waha Capital's broader strategy to contribute positively to society.

The company reported a net profit of AED381 million for 2024, which is attributable to shareholders. This figure represents a 10% return on average equity, showcasing the effectiveness of Waha Capital's investment strategy amid global market fluctuations. As of December 31, 2024, total assets under management reached AED11.9 billion, marking a 13% increase from AED10.5 billion in 2023.

Waleed Al Mokarrab Al Muhairi, Chairman of Waha Capital, stated that the dividend approval underscores the company's commitment to delivering consistent value to shareholders. He noted that strong results in 2024 are evidence of an effective investment strategy that successfully navigated 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," he said.

Mohamed Hussain Al Nowais, Managing Director of Waha Capital, highlighted the company's strong performance in 2024. He attributed this success to a resilient investment strategy and sustained growth across business verticals. Al Nowais emphasised that their progressive dividend policy reflects a commitment to delivering consistent shareholder returns by increasing assets under management and diversifying revenue sources.

Looking forward, Waha Capital aims to pursue high-growth opportunities and expand its asset management portfolio. The company is focused on reinforcing its position as a gateway to Abu Dhabi's thriving economy. By doing so, Waha Capital seeks to maintain its role as a key player in the region's financial landscape.

The strategic initiatives undertaken by Waha Capital demonstrate its dedication to both shareholder value and community development. Through prudent financial management and innovative programmes like scholarships for students, the company continues to strengthen its presence in Abu Dhabi while contributing positively to society.

With inputs from WAM