By Ramy Sameeh
Abu Dhabi – Mubasher: Waha Capital was cleared Wednesday by shareholders to distribute cash dividends for the fiscal year 2015 at 20% of capital, or 20 fils per share, totalling AED 389 million.
Chairman Hussein Jassem Al-Nowais told reporters that shareholders requested a rise in dividend distribution to 25% of capital, but was rejected by the management as this would negatively affect the company.
He noted that dividend distributions over the last five years reached 20% of capital.
Waha Capital earlier reported an 18% rise in 2015 net profit to AED 588 million, from AED 498.1 million adjusted net profit a year earlier.
