1. Home
    Item seperator
  3. Item seperator
    Share repurchases

Share repurchases

Program announced in January 2024

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. On 19 July 2024, Nokia decided to accelerate the share buybacks by increasing the number of shares to be repurchased during the year 2024. The post-increase repurchases in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052 and under the authorization granted by Nokia’s Annual General Meeting on 3 April 2024 started on 22 July 2024 and end by 31 December 2024 with a maximum aggregate purchase price of EUR 600 million for all purchases during 2024.

On 28 June 2024 Nokia announced the acquisition of Infinera against a consideration which Infinera shareholders may elect to receive in cash, Nokia shares, or a combination of the two. As this offer is now formally extended to Infinera shareholders, applicable regulations prohibit Nokia from executing share buybacks. Consequently, the next buybacks under the programme will happen after the Infinera shareholders’ special meeting, expected to take place on 1 October 2024, and continue in line with the accelerated timeframe of the programme as announced on 19 July 2024.

 

Program announced in February 2022

In February 2022, Nokia’s Board of Directors initiated a share buyback program to repurchase shares to return up to EUR 600 million of cash to shareholders in tranches over a period of two years.

The first EUR 300 million phase of the share buyback program was started in February 2022 and was completed in November 2022. Under this first phase, Nokia repurchased 63 963 583 of its own shares at an average price per share of approximately EUR 4.69. The repurchases reduced the Company’s unrestricted equity by EUR 300 million and the repurchased shares were cancelled in December 2022.

The second EUR 300 million phase was started in January 2023 and was completed in November 2023. Under this second phase, Nokia repurchased 78 301 011 of its own shares at an average price per share of approximately EUR 3.83. The repurchases reduced the Company's unrestricted equity by EUR 300 million and the repurchased shares were cancelled in November 2023.