Source : WAM
Investcorp Capital (ICAP) has announced its financial results for the second quarter of fiscal year 2026, covering the six months ended 31 December 2025 (H1 FY26).
ICAP maintained a resilient performance in H1 FY26, reflecting disciplined execution and solid income generation, keeping the company on track to achieve its FY2026 dividend target of 8% on opening NAV.
Total operating income increased 16% year-on-year to $52 million, while net profit remained steady at $27 million. The company expanded its asset portfolio to $1.96 billion, highlighting its ability to create sustainable shareholder value through strategic capital deployment into attractive investment opportunities.
Gross operating income reached $52 million in H1 FY26, up from $45 million in H1 FY25. Revenue from underwriting activities remained largely stable at $24 million, $1 million lower than the same period last year, delivering a 10% annualised effective yield. Revenue from co-investment activities rose 47% to $25 million, compared with $17 million in the corresponding period last fiscal year. Operating expenses declined to $4 million.
The Board declared an interim dividend of AED 0.092/$0.025 per share, amounting to $55 million in total (31 December 2024: AED 0.094/$0.026 per share, or $56 million). This represents half of the company’s targeted full-year dividend and aligns with its current dividend policy, which remains in place until the end of June 2026. In total, interim dividends of AED 202 million were declared, representing AED 0.092 per share.
Sana Khater, Chief Executive Officer, Investcorp Capital, said, “We are pleased to report strong results in H1 FY26. ICAP continues to deliver one of the higher dividend profiles on the Abu Dhabi Securities
Exchange (ADX) and we remain committed to maintaining a competitive dividend payout going forward. Our portfolios continued to perform well, with co-investment revenue up 47% year-on-year. This demonstrates the strength and scalability of our business model as we continue to leverage our global pipeline to generate shareholder value.”
