(MENAFN) Abu Dhabi-based Waha Capital, the investment firm, posted a net profit of USD49.6 million in the first quarter of the year, marking an increase of 20.2 percent year-on-year, Reuters reported.
The figure that was recorded for the corresponding period last year was USD41.27million on the back of decent performance from prime portfolio firms and its Capital Markets dissections.
At Waha Capital's Annual General Meeting, held in March 2015, shareholders approved a cash dividend distribution of AED0.30 per share on eligible shares, which represents an increase of 140% from the previous year.
"The financial results recorded during this quarter demonstrate Waha Capital's stature as a successful investment company rooted in Abu Dhabi, with a strong portfolio of regional and global investments." Chairman of Waha Capital said.
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