Waha Capital, the Abu Dhabi investment firm that owns a stake in the New York-listed airline leasing company AerCap, has approved a cash dividend of 20 per cent.
Waha had reported in the fourth quarter of last year a second straight quarter of declining profit amid tough global economic and market conditions.
Net income fell 15 per cent to Dh121 million in the last three months of 2015 from Dh142.1m in the same period the previous year.
Waha reported a full-year net profit of Dh588 million.
While the Abu Dhabi-listed investment firm did not give precise reasons for the drop during the fourth quarter, in the third quarter of last year it said that profit fell after income from capital market transactions plunged.
However, Waha is forging ahead with investments.
“Waha Capital is focused on continuing to drive growth in the business and is committing additional capital to expand its principal investments,” the company said.
“The company has also launched an asset management platform, which is offering investors access to high potential regional capital markets and private equity opportunities and is also investing significant seed capital in these new funds.”
Waha was considering new opportunities and looking to spend Dh4 billion in the fields of health care, education, energy and infrastructure, Salem Al Noaimi, Waha Capital’s chief executive said last May.
The Abu Dhabi government-owned investment firm Mubadala Development owns a 15.4 per cent stake in Waha.
dalsaadi@thenational.ae
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