🔥 Premium AI-powered Stock Picks from InvestingPro Now up to 50% OffCLAIM SALE

Nordea Bank reduces share count for capital optimization

EditorAmbhini Aishwarya
Published 2023/11/17, 10:42
© Reuters.

Nordea Bank Abp (OTC:NRDBY) has taken a significant step in its capital optimization strategy by canceling a portion of its treasury shares, as confirmed by the Finnish Trade Register today. The Board of Directors of the bank has decided to reduce the number of outstanding shares, a move that aligns with Nordea's ongoing efforts to streamline its capital structure.

The cancellation involves 13,500,394 treasury shares, which results in Nordea's total share count being adjusted to 3,535,389,326, with each share carrying one vote. This decision does not leave the bank without a reserve of treasury shares; Nordea still retains 588,029 shares designated for capital optimization and an additional 4,787,315 shares set aside for remuneration purposes.

InvestingPro Insights

According to InvestingPro's real-time data, Nordea Bank Abp has a market cap of $39.6 billion, a P/E ratio of 7.13, and a P/E ratio adjusted for the last twelve months as of Q3 2023 of 7.09. The company's revenue growth for the same period stands at an impressive 29.5%.

InvestingPro Tips points to the bank's consistently increasing earnings per share, a positive sign for potential investors. However, it's crucial to also note the possibility of dividend cuts due to poor earnings and cash flow. This is reflected in the data showing a -29.64% dividend growth in the last twelve months as of Q3 2023.

These insights provide a snapshot of Nordea Bank Abp's current financial status. For more detailed insights and additional tips, consider exploring the InvestingPro platform, which offers a plethora of data and tips for numerous companies.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.