Nordea Bank closes its fourth share buyback program

Nordea Bank Abp announced the completion of its fourth share buyback program, initiated in April 2023. Between April 28, 2023, and February 21, 2024, the bank bought back 97,406,133 of its own shares at an average price of EUR 10.26 per share.

The buyback program, with a budget of EUR 1 billion and authorized by the 2023 Annual General Meeting, aimed to optimize the capital structure and generate sustainable returns for shareholders by reducing excess capital. Since the launch of the first program in October 2021, Nordea has distributed EUR 5.5 billion to its shareholders by buying back approximately 544 million shares at an average price of EUR 10.09 per share.

The repurchased shares were canceled on a monthly basis, impacting the company's unrestricted equity by EUR 1 billion. Nordea now holds 15,912,565 treasury shares for capital optimization and 4,787,315 shares for remuneration purposes. Nordea plans to continue using share buybacks to distribute excess capital to its shareholders in line with its capital and dividend policy.