The management board of
1) To make a new proposal to the upcoming general meeting of shareholders by which no dividends shall be paid for the year 2019 (previous stock exchange announcement https://www.nasdaqbaltic.com/statistics/en/news/311003). The group’s long-term dividend policy (dividend ratio 50-70%) remains in force.
2) The group continues construction activities until completion of all apartment development projects that are currently in construction phase. The group has currently in total of ca 800 apartments under construction in the three Baltic states of which 53% have been sold with preliminary agreements.
3) During the following three months, the group will not initiate construction works of any new development projects. This includes the third stage of the Uus-Veerenni project (
The pandemic and restrictions shall have a negative effect on the construction sector as well as the group’s business operations, while the extent of that effect is currently impossible to assess. Group companies are co-operating with all parties to complete all objects currently under construction.
Andres Trink
Chairman of the Management Board
+372 650 1250
andres.trink@merko.ee
© OMX, source