The shareholders of Dubai-based integrated healthcare and education company Amanat Holdings have approved the distribution of a 1.5 percent cash dividend, following its first full year of operations.
Faisal Bin Juma Belhoul, chairman of Amanat, said in a statement that the company has made “significant progress” in 2015, while maintaining tight control over costs.
Amanat recorded a net profit of AED50.6 million for the period from its inception on November 17, 2014, to December 31, 2015. Total income in the same period stood at AED89.6 million, comprised mainly of AED 57.3 million of gain and dividends from Al Noor Hospitals Group and AED32.3 million in interest income.
Belhoul added: “Amanat’s strong cash position and healthy deal pipeline leaves us well positioned to continue building, through our three verticals, a portfolio of desirable assets in the high growth healthcare and education sectors.”
On Monday, Amanat said it has bought a 16 percent stake in the owner of Taaleem, which runs four nurseries and seven schools in the UAE.
In a statement to the Dubai bourse, Amanat said it had paid $40 million for the stake in Madaares, which makes it one of the latter’s five largest shareholders.
The schools run under the Taaleem brand have a combined student enrolment of 6,900.
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