OREANDA-NEWS. January 31, 2014. A total of 1.5 billion euros in dividends was declared to the Tax and Customs Board last year, representing a 35 percent increase compared with the previous year and a new record for the 10 years that such data is available.

The increase is even more surprising considering that state companies paid out less last year than they did in 2012, as private businesses paid out 46 percent more, Postimees reported.

According to the Ministry of Finance, the reason for the payouts could lie in an increase in confidence, with many companies paying dividends for the first time in five years, the daily said, adding that a lack of investments and fear that tax-rates will increase also played a part in the decisions.