ESPOO, Finland - Nokia (HE:NOKIA) Corporation (NYSE:NOK) has continued its share repurchase program, acquiring 872,093 of its own shares on Monday. The transactions were carried out on the Helsinki Stock Exchange (XHEL), with a weighted average price of €4.34 per share.
The buyback initiative is part of a broader strategy announced on November 22, 2024, to mitigate the dilutive impact of issuing new shares to Infinera (NASDAQ:INFN) Corporation shareholders and for certain share-based incentives. The program, which is in line with the Market Abuse Regulation (EU) 596/2014 and the Commission Delegated Regulation (EU) 2016/1052, received authorization from Nokia’s Annual General Meeting on April 3, 2024.
The repurchase plan commenced on November 25, 2024, with an end date set for December 31, 2025. It aims to acquire up to 150 million shares, not exceeding a total purchase price of €900 million. On the day of the transaction, Nokia’s total expenditure amounted to €3,782,267.
Following the latest transactions, Nokia holds 227,346,987 treasury shares in its possession. The company's buyback program aligns with its capital structure optimization efforts and reflects its commitment to delivering value to shareholders.
Nokia, a leader in B2B technology innovation, is known for developing networks with capabilities to sense, think, and act. The company's pioneering efforts span mobile, fixed, and cloud networks, and it is recognized for its intellectual property and long-term research led by Nokia Bell Labs. Nokia's open architectures are designed to seamlessly integrate into any ecosystem, providing high-performance networks that enable monetization and scalability opportunities.
The information provided is based on a press release statement from Nokia Corporation.
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