estimado
/estiˈmado/ · B1 · adj
dear (formal way of addressing somebody at the beginning of a letter)
✉️ estimado = esteemed; both come from Latin aestimare, to value
English esteem and estimate come from the same root. Estimado is the Spanish past participle, meaning valued or esteemed. A formal letter begins Estimado señor, the way an old English one began Esteemed sir.