Nordea Bank Abp Nordea completes fourth share buy-back programme
February 22 2024 - 10:02AM
RNS Regulatory News
RNS Number : 1617E
Nordea Bank Abp
22 February 2024
Nordea completes fourth share buy-back
programme
Nordea Bank Abp
Stock exchange release - Other information disclosed according to
the rules of the Exchange
22 February 2024 at 17.00 EET
Nordea has now
completed its fourth share buy-back programme announced in April
2023. From 28 April 2023 to 21 February 2024, Nordea repurchased
97,406,133 of its own shares (FI4000297767) at an average price per
share of EUR 10.26.
On 26 April 2023, Nordea announced a share
buy-back of up to EUR 1.0bn, based on the authorisation granted to
the Board by the 2023 Annual General Meeting. The purpose of share
buy-backs is to pursue an efficient capital structure and generate
sustainable shareholder returns by reducing Nordea's excess
capital. Since the inception of the inaugural buy-back programme in
October 2021, Nordea has distributed EUR 5.5bn to its shareholders
through repurchasing around 544 million shares at an average price
of EUR 10.09 per share.
Nordea repurchased the shares in public trading
otherwise than in proportion to the shareholdings of its
shareholders (directed repurchases). The repurchased shares were
cancelled on a monthly basis.
The repurchases of the fourth buy-back programme
reduced the company's unrestricted equity by EUR 1.0bn. Nordea now
holds 15,912,565 treasury shares for capital optimisation purposes
and 4,787,315 treasury shares for remuneration purposes.
Nordea expects to continue to use share
buy-backs to distribute excess capital to Nordea's shareholders in
accordance with Nordea's capital and dividend policy.
For further information:
Ilkka Ottoila, Head of Investor Relations, +358
9 5300 7058
Media inquiries, +358 10 416 8023 or press@nordea.com
The
information provided in this stock exchange release was submitted
for publication, through the agency of the contacts set out above,
at 17.00 EET on 22 February 2024.
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