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ESPOO, Finland - Nokia (HE:NOKIA) Corporation (NYSE:NOK) has completed a purchase of its own shares on Wednesday, as part of its ongoing buyback program aimed at reducing the dilutive impact from a recent equity issuance. The company acquired a total of 872,093 shares at an average price of EUR 4.33 per share, amounting to a total cost of EUR 3,777,558.
This transaction is part of a broader share repurchase initiative announced on November 22, 2024, which was approved by Nokia’s Board of Directors to counterbalance the dilution caused by issuing new shares to Infinera (NASDAQ:INFN) Corporation shareholders and for certain share-based incentives. The repurchase program, which adheres to the Market Abuse Regulation (MAR) and the Commission Delegated Regulation, began on November 25, 2024, with a target of acquiring 150 million shares at a maximum aggregate price of EUR 900 million by the end of December 2025.
Following the recent repurchase, Nokia now holds 234,286,805 treasury shares. The buyback program is executed under the authorization granted by the Annual General Meeting on April 3, 2024.
Nokia is a global technology leader focused on network innovation and is known for creating high-performance networks with open architectures that integrate seamlessly into various ecosystems. The company also emphasizes the creation of value through intellectual property and long-term research, with contributions from the renowned Nokia Bell Labs.
The information provided here is based on a press release statement from Nokia Corporation.
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