Share repurchases

In 2020 and 2021, Nokia generated strong cash flow which has significantly improved the cash position of the company. To manage the company’s capital structure, Nokia’s Board of Directors initiated a share buyback program under the authorizations from the Annual General Meetings 2021 and 2022 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 was started in February 2022 and was completed in November 2022. The second EUR 300 million phase of the share buyback program started in January 2023 and it will end at the latest by 21 December 2023.