Analysts expect solid dividends for 2002

Analysts said that, according to their estimates, publicly traded Estonian companies were set to post solid results for financial 2002, and that therefore investors can expect better-than-average dividends.

Toomas Reisenbuk, chief analyst at Trigon Markets, said that according to Trigon's estimates the largest listed companies would pay good dividends to investors this year, too.

Trigon has forecast Eesti Telekom to pay a dividend of 5.5 kroons (0.35 euros) per share, Hansapank 7.2 kroons, Norma 6.15 kroons, Merko Ehitus 2.3 kroons, Harju Elekter 1.4 kroons, and Saku Olletehas 5 kroons per share.

"No major changes are expected in the companies' dividend policy. I think that the major Estonian companies listed on the stock exchange will pay shareholders reasonable dividends," Reisenbuk said.

Sander Danil, analyst at Uhispank, said the bank was forecasting its competitor Hansapank to pay 5 kroons - 5.5 kroons per share for 2002.

"In regards to (Hansapank's) dividends, the position is that owing to its relatively strong capitalization, Hansa will pay out more or less the maximum up to 30 percent of net profit set out in the dividend policy, which gives a net dividend of 5 kroons - 5.5 kroons per share," Danil said.