ESPOO, Finland - Nokia (HE:NOKIA) Corporation (NYSE:NOK) has continued its share buyback program, purchasing 872,093 of its own shares on Friday, with an average price of €4.40 per share. This transaction is part of a broader initiative to mitigate the dilutive impact of issuing new shares to Infinera (NASDAQ:INFN) Corporation shareholders and for certain Infinera share-based incentives.
The buyback program, which complies with the Market Abuse Regulation and the Commission Delegated Regulation, was announced on November 22, 2024, following authorization by Nokia’s Annual General Meeting on April 3, 2024. The goal is to repurchase up to 150 million shares for a maximum aggregate price of €900 million by December 31, 2025.
With the latest transactions totaling approximately €3.84 million, Nokia now holds 231,670,526 treasury shares. The repurchase initiative is part of the company’s strategy to optimize its capital structure and to return value to shareholders.
Nokia, a global leader in B2B technology innovation, focuses on creating networks that are capable of sensing, thinking, and acting. The company is known for its contributions to mobile, fixed, and cloud networks, as well as its commitment to intellectual property and long-term research, spearheaded by the renowned Nokia Bell Labs.
This latest financial move underscores Nokia’s ongoing efforts to strengthen its market position and deliver on its promises to stakeholders. The information provided here is based on a press release statement from Nokia Corporation.
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