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ESPOO, Finland - Nokia Corporation (HEL:HE:NOKIA) announced it has repurchased 1.4 million of its own shares on Monday, part of a broader effort to counteract the dilutive impact of recent stock issuances. The transactions were conducted at an average price of €4.72 per share, totaling approximately €6.6 million.
This move comes after the company’s announcement on November 22, 2024, that its Board of Directors had initiated a share buyback program. The program was established to mitigate the dilutive effects of new shares issued to Infinera (NASDAQ:INFN) Corporation shareholders and related share-based incentives following a corporate action.
The buyback program, which adheres to the Market Abuse Regulation (MAR) and the Commission Delegated Regulation, began on November 25, 2024, and is set to conclude by December 31, 2025. Nokia aims to repurchase up to 150 million shares, with a maximum aggregate purchase price of €900 million.
Following the February 27 transactions, Nokia Corporation’s treasury holds 261,317,814 shares. The company has been actively managing its share capital to optimize shareholder value.
Nokia, a global leader in B2B technology innovation, is known for pioneering networks that are designed to be adaptive and scalable. With a history of innovation spearheaded by Nokia Bell Labs, the company focuses on creating technology that enables connectivity and collaboration across various industries.
The information in this article is based on a press release statement from Nokia Corporation.
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