Government Increases Its Dividend Yield ({{commentsTotal}})

Source: Photo: ERR

The Cabinet today approved a motion to take 55.2 million euros from state-owned energy giant Eesti Energia and 1.2 million from Eesti Loots, a port piloting company.

According to an initial plan, the state would only have withdrawn 34.9 million euros from the two companies, but additional income was needed to bring more balance to the 2014 state budget, uudised.err.ee reported.

Part of those additional dividends will be used to fill the hole in the budget left by the canceling of a plan to cut VAT deductions on business vehicles.

The state had banked on 24 million euros from cutting the deductions, but the idea proved unpopular among opposition and coalition MPs alike.