ESPOO, Finland - Nokia (HE:NOKIA) Corporation (NYSE:NOK) has repurchased 1.4 million of its own shares on Monday, the company announced, as part of a broader strategy to mitigate the dilutive impact of recent share issuances. The shares were acquired at an average price of €4.53 per share, totaling approximately €6.34 million in expenditure for the day’s transactions.
The buyback is a component of a program that commenced on November 25, 2024, following a November 22 announcement. This initiative was launched by Nokia’s Board of Directors in response to the issuance of new shares to shareholders of Infinera (NASDAQ:INFN) Corporation and to cover certain share-based incentives related to that company. The program is designed to repurchase up to 150 million shares, with a maximum aggregate purchase price of €900 million, and is set to conclude by December 31, 2025.
The share repurchase program is being conducted in accordance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052, and is under the authorization granted by Nokia’s Annual General Meeting on April 3, 2024.
Following these latest transactions, Nokia Corporation’s treasury now holds 239,524,606 shares. The purpose of these repurchases is to reduce the total number of Nokia shares outstanding, thereby increasing earnings per share and shareholder value.
Nokia is a leading B2B technology innovator, widely recognized for its contributions to mobile, fixed, and cloud networks. The company emphasizes the importance of open architectures that integrate seamlessly into various ecosystems, providing high-performance networks that are trusted by service providers, enterprises, and partners globally.
The information detailed in this article is based on a press release statement from Nokia Corporation.
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