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ESPOO, Finland - Nokia (HE:NOKIA) Corporation (NYSE:NOK) has repurchased 872,093 of its own shares on Monday, at a weighted average price of €4.34 per share, as part of its ongoing share buyback program. The total cost of the transactions on that day amounted to €3,786,889.
The buyback program, which commenced on November 25, 2024, was established to counteract the dilutive impact of new shares issued to Infinera (NASDAQ:INFN) Corporation shareholders and related share-based incentives. The program was authorized by Nokia's Annual General Meeting on April 3, 2024, and is in accordance with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052.
Nokia's initiative aims to repurchase 150 million shares for a maximum aggregate purchase price of €900 million by the end of December 2025. Following the latest transactions, the company now holds 232,542,619 treasury shares.
The share repurchase is part of Nokia's broader strategy as a B2B technology leader to develop networks that are capable of sensing, thinking, and acting, building upon their work across mobile, fixed, and cloud networks. The company, known for its innovation in technology, continues to create value through its intellectual property and long-term research, driven by the Nokia Bell Labs.
Nokia's efforts to maintain high-performance networks are designed to open new opportunities for monetization and scalability for service providers, enterprises, and partners globally. The company emphasizes secure, reliable, and sustainable networks that integrate into any ecosystem, aiming to stay at the forefront of creating the digital services and applications of the future.
This news is based on a press release statement from Nokia Corporation.
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