Company: NOKBF
Filing Date: 2025-04-24
Form Type: 6-K
Source: 0001104659-25-038218
Chunk: 5

Company: NOKIA CORP
Filing Date: 2025-04-24
Form: 6-K
Chunk 5
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HOLDER DISTRIBUTION

Dividend

The Board of Directors proposes that the Annual General Meeting 2025 to be held on 29 April 2025 authorizes the Board to resolve on the distribution of an aggregate maximum of EUR 0.14 per share to be paid in respect of the financial year 2024. The authorization would be used to distribute dividend and/or assets from the reserve for invested unrestricted equity in four installments during the authorization period unless the Board decides otherwise for a justified reason. Subject to approval by the Annual General Meeting, the Board is expected to resolve on the amount and timing of each distribution so that the preliminary record and payment dates will be as set out in the Board’s proposal to the Annual General Meeting. Accordingly, the first expected record date would be 5 May 2025 and the expected payment date would be 12 May 2025. The actual dividend payment date outside Finland will be determined by the practices of the intermediary banks transferring the dividend payments.

Share buyback program

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, depending on the elections of Infinera shareholders. To offset the dilution from the transaction to Nokia shareholders, on 22 November 2024 Nokia announced a share buyback program targeting to repurchase 150 million shares. This share buyback program was completed on 2 April 2025. Under this program, Nokia repurchased 150 million of its own shares at an average price per share of approximately EUR 4.69. The repurchases reduced the company’s unrestricted equity by approximately EUR 703 million and the repurchased shares were cancelled on 23 April 2025.

OUTLOOK

The outlook provided below reflects the acquisition of Infinera.

|                                | Full Year 2025                                         |
| Comparable operating profit(1) | EUR 1.9 billion to EUR 2.4 billion                     |
| Free cash flow(1)              | 50% to 80% conversion from comparable operating profit |

Please refer to Alternative performance measures section
in Nokia Corporation Interim Report for Q1 2025 for a full explanation of how these terms are defined.

The outlook and all of the underlying outlook assumptions described
below are forward-looking statements subject to a number of risks and uncertainties as described or referred to in the Risk Factors section
later in