Postimees Digest, Tuesday, April 23
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Tallink pays hefty dividends.
Baltic Sea shipping giant Tallink has decided to put the technology arms race on hold on treat shareholders to dividends amounting to 5 cents per share despite much more modest expectations by analysts. "We have become the biggest shipping company on the Baltic Sea and we do not plan to invest in new ships over the coming years. That has led to a lower loan burden and made it possible for us to pay out dividends," said member of the board Enn Pant. Heads of Tallink said that the company will now concentrate on improving the quality of on board services and its overall profitability as it is very hard to grow its 9 million passenger client base further by any substantial degree.
Klettenberg: the market could use a pacemaker stock.
Head of NASDAQ OMX Tallinn Rauno Klettenberg says in separate interviews that listing of state-owned companies would help liven up and make more transparent the local capital market and that it is currently sensible to involve capital from the local market. Klettenberg also says that the exchange could use a so-called pacemaker share that would peak the interest of investors that would in turn motivate more companies to jump in. The CEO also says the situation has improved year over year as both the market capitalization and turnover of listed companies has grown. "I would say things are looking up as March of 2013 was the best month the exchange has seen inside the past three years." Rauno Klettenberg took up the office of management board chairman on April 8.
One family, twelve years on missions
The Õim brothers are no ordinary family. Four in all, they make up Estonia’s most experienced bunch of combat veterans: 24 foreign missions, 12 combined years spent in the heat of battles.