Capital Management House (CMH), Bahrain based Islamic investment bank, has distributed the regular quarterly dividend, calculated at 10% per annum, to GCC investors of the bank’s Aircraft Leasing Investment Company for the first quarter of the year ended 31 March 2012.
CMH’s aircraft leasing company was created in January 2011 and has been structured around a transaction concluded with Emirates Airlines, one of the world’s leading carriers, which consists of the acquisition of a Boeing 777-200ER aircraft from the airline and an agreement whereby it has been leased back to Emirates. The deal, which was undertaken in partnership with Novus Aviation and Muzun Partner Ltd., builds on opportunities in the regional aviation sector, which has shown to be resilient, and on the leasing sub-segment where strong returns can be achieved and where further growth, both in absolute and relative terms, is expected to continue in light of the Middle East’s position as one of the fastest growing travel hubs in the world.
“We are again pleased to announce another quarter of solid dividends for investors in Capital Management House’s aviation leasing company,” 
“This investment continues to generate healthy returns for the Bank and our co-investors. The aviation sector is a growth industry with great potential and we are pleased to have been able to capitalize on that growth. We continue to look for opportunities in this sector and others that will enable us to acquire assets that are both income-yielding and provide for medium to long-term upside potential.”
“CMH also invests in other growth sectors and those that are of fundamental importance to the development of Bahrain and the regional economies. To date, the Bank has made significant investments in transportation, infrastructure, energy, power, financial services, real estate and capital markets. Notable among these is the Bank’s stake in Al Dur Power and Water, which has recently launched commercial operations in February 2012 in Bahrain and was formally inaugurated by His Majesty King Hamad bin Isa Al Khalifa, King of Bahrain on the 30th of April 2012, underscoring the highly strategic nature of the project,” Aljasim, added.
Al Dur is the single largest independent producer of Power and Water in the Kingdom of Bahrain. It is capable of producing 1,234 MW of power and more than 218,000 m3 per day of the highest quality water in the GCC today. This is equivalent to approximately one-third of the Kingdom’s peak power needs and one-third of the water requirements of Bahraini industry, business and citizens. The Bahraini Electricity and Water Authority (‘EWA’) is the sole off-taker of the plant output as stipulated in a 25-year Power and Water Purchase Agreement.