Company: NOKBF
Filing Date: 2025-01-30
Form Type: 6-K
Source: 0001104659-25-007448
Chunk: 11

Company: NOKIA CORP
Filing Date: 2025-01-30
Form: 6-K
Chunk 11
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 decides otherwise for a       
 justified reason.                                                 
 Under the current authorization by the Annual General Meeting     
 held on 3 April 2024, the Board of Directors may resolve on the   
 distribution of an aggregate maximum of EUR 0.13 per share to     
 be paid in respect of financial year 2023. The authorization will 
 be used to distribute dividend and/or assets from the reserve     
 for invested unrestricted equity in four installments during the  
 authorization period, in connection with the quarterly results,   
 unless the Board decides otherwise for a justified reason.        
 On 30 January 2025, the Board resolved to distribute a            
 dividend of EUR 0.03 per share. The dividend record date is 4     
 February 2025 and the dividend will be paid on 13 February        
 2025. The actual dividend payment date outside Finland will be    
 determined by the practices of the intermediary banks             
 transferring the dividend payments.                               
 Following this announced distribution of the fourth installment   
 and executed payments of the previous installments, the Board     
 has no remaining distribution authorization.                      
 Share buyback programs                                            
 In January 2024, 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 share buyback execution started on 20 March        
 2024. On 19 July 2024, Nokia's Board of Directors decided to      
 accelerate the timeframe for the share buyback program with       
 the aim of completing the full EUR 600 million program by the     
 end of the year instead of the initial two year timeframe. The    
 program was completed on 21 November 2024 and the                 
 repurchased 157 646 220 shares were canceled on 4                 
 December 2024.                                                    
 On 27 June 2024, Nokia announced its intention to acquire         
 Infinera in a transaction that valued Infinera at US$1.7 billion  
 equity value with up to 30% of the consideration to be paid in    
 Nokia American depositary shares ("ADSs"), depending on the       
 elections of Infinera shareholders. To offset the dilution from   
 the transaction to Nokia shareholders, on 22 November 2024        
 Nokia announced a new share buyback program targeting to          
 repurchase 150 million shares for an aggregate purchase price     
 not exceeding EUR 900 million. Under this share buyback           
 program, by 31 December 2024, Nokia