Nordea Bank Abp
/ Key word(s): Share Buyback
Nordea to launch fourth share buy-back programme of up to EUR 1.0bn
Nordea Bank Abp
Nordea's Board of Directors has approved a share buy-back programme of up to EUR 1.0bn. The programme will commence on 28 April 2023 or as soon as possible after that date. The approval from the European Central Bank for the buy-backs was announced on 3 March 2023.
Nordea's Board of Directors has today approved a share buy-back programme of up to EUR 1.0bn. The share buy-backs will be carried out in accordance with the authorisation granted to the Board by the 2023 Annual General Meeting.
The purpose of the buy-backs is to pursue an efficient capital structure and generate sustainable shareholder returns by reducing Nordea's excess capital. The programme will commence on 28 April 2023 or as soon as possible after that date and end no later than 5 March 2024.
Nordea has engaged a third-party broker to execute the buy-back programme. Based on irrevocable instructions, the broker will decide on the repurchases, including their timing, in full independence. All repurchases will be made in compliance with applicable price and volume limits and applicable terms.
The key terms of the share buy-back programme include:
Prior to commencement of the fourth buy-back programme Nordea holds 1,810,352 treasury shares for capital optimisation purposes and 4,781,182 treasury shares for remuneration purposes.
Nordea is implementing an efficient capital structure and will continue to distribute excess capital to shareholders in the future in line with its capital and dividend policy.
For further information:
Matti Ahokas, Head of Investor Relations, +358 9 5300 8011
The information provided in this stock exchange release was submitted for publication, through the agency of the contacts set out above, at 16.30 EET on 26 April 2023.
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End of Media Release
|Company:||Nordea Bank Abp|
|105 71 Stockholm|
|Listed:||Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Hanover, Munich, Stuttgart; SIX Swiss Exchange|
|EQS News ID:||1618115|
|End of News||EQS News Service|
1618115 26.04.2023 CET/CEST