Nokia Corporation (NYSE:NOK) accelerates its share buyback program, aiming to repurchase up to €600 million worth of shares to return value to shareholders.
The company’s stock received a positive outlook from Danske Bank, upgrading from Hold to Buy, reflecting confidence in Nokia’s financial strategies and market position.
Nokia declared a dividend of approximately $0.0346, with a record date and payment date on October 22, 2024, and November 5, 2024, respectively, as part of its commitment to returning value to its shareholders.
Nokia Corporation (NYSE:NOK) is a global leader in telecommunications, information technology, and consumer electronics. The company is known for its innovative solutions in mobile networks, digital health, and virtual reality. Nokia competes with other major players like Ericsson and Huawei in the telecommunications industry. On October 22, 2024, Nokia announced a share buyback program to repurchase its own shares, aiming to return up to €600 million to shareholders over two years.
The share buyback program, which began on March 20, 2024, was accelerated on July 19, 2024, to increase the number of shares repurchased within the year. This initiative is conducted in compliance with EU regulations and authorized by Nokia’s Annual General Meeting. On October 22, 2024, Nokia executed transactions amounting to €8.4 million, resulting in the company holding 180.2 million treasury shares. BofA Securities Europe SA manages the buyback program on behalf of Nokia.
In addition to the buyback program, Nokia’s stock received a positive outlook from Danske Bank, which upgraded its stock grade from Hold to Buy on October 18, 2024. At the time of the upgrade, the stock price was $4.73. This upgrade reflects confidence in Nokia’s financial strategies and market position. As of October 22, 2024, Nokia’s stock price on the NYSE is $4.79, showing an increase of 2.35% or $0.11.
Nokia also declared a dividend of approximately $0.0346 on October 22, 2024, with a record date on the same day. Shareholders can expect the dividend payment on November 5, 2024. This dividend declaration, initially made on January 26, 2024, is part of Nokia’s commitment to returning value to its shareholders. The company’s market capitalization is approximately $26.12 billion, with a trading volume of 14.3 million shares.