Smart Move: Nokia Corporation Buys Back Shares on 08/10/2024
Description:
Nokia Corporation Stock Exchange Release 8 October 2024 at 22:30 EET Nokia Corporation: Repurchase of own shares on 08.10.2024 Espoo, Finland – On 8 October 2024 Nokia Corporation (LEI: 549300A0JPRWG1KI7U06) has acquired its own shares (ISIN FI0009000681) as follows: Trading venue (MIC Code) Number of shares Weighted average price / share, EUR* XHEL 1,654,395 3.98 CEUX 694,799 3.98 BATE – – AQEU – – TQEX – – Total 2,349,194 3.98 * Rounded to two decimals On 25 January 2024, Nokia announced that its Board of Directors is initiating a share buyback program to return up to EUR 600 million of cash to shareholders in tranches over a period of two years. The first phase of the share buyback program started on 20 March 2024.
How It Will Affect Me:
As a shareholder of Nokia Corporation, the buyback of shares could potentially lead to an increase in the value of my remaining shares due to the reduction in the total number of outstanding shares. This can also result in a boost in earnings per share, which could be beneficial for me as an investor.
How It Will Affect the World:
The buyback of shares by Nokia Corporation can have a ripple effect on the world economy. By returning cash to shareholders and enhancing shareholder value, it could attract more investors to the company and potentially lead to a positive impact on the overall stock market. Additionally, it showcases confidence in the company’s financial stability and future growth prospects, which can have a broader positive influence on the business world.
Conclusion:
In conclusion, Nokia Corporation’s decision to repurchase its own shares is a strategic move that can benefit both shareholders and the larger financial ecosystem. By returning cash to investors and signaling confidence in its future, Nokia is positioning itself for long-term success in the market.
