Nokia Corporation Stock Exchange Release

Nokia Corporation: Repurchase of Own Shares

Summary

On 15 October 2024, Nokia Corporation has repurchased its own shares on the stock exchanges. The company acquired a total of 2,259,006 shares at a weighted average price of EUR 4.07 per share. This move is in line with Nokia’s previously announced share buyback program to return cash to shareholders.

Background

On 25 January 2024, Nokia’s Board of Directors announced a share buyback program to return up to EUR 600 million to shareholders over a two-year period. The first phase of the buyback program began on 20 March 2024, and the recent repurchase of shares is part of this initiative.

Impact

This buyback program demonstrates Nokia’s commitment to creating value for its shareholders. By repurchasing shares, the company aims to improve its stock performance and increase shareholder returns. This move also indicates that Nokia has confidence in its financial position and future prospects.

How does this affect me?

As a Nokia shareholder, the share buyback program could potentially increase the value of your investment. With fewer shares outstanding, each remaining share represents a larger stake in the company, which could lead to higher earnings per share and potentially higher stock prices.

How does this affect the world?

While the impact of Nokia’s share buyback program on the world at large may be minimal, it does signal to investors and the market that the company is focused on delivering value to its shareholders. This move could also have a positive ripple effect on the broader technology sector, as Nokia is a key player in the industry.

Conclusion

In conclusion, Nokia’s repurchase of own shares is a strategic move aimed at creating value for shareholders and instilling confidence in the company’s future. By returning cash to investors and signaling financial strength, Nokia is positioning itself for long-term success in the competitive tech market.