Nokia Board Proposes EUR 0.13/Share Distribution at April 3 AGM

TL;DR

**Nokia's board wants to pay out up to EUR 0.13/share in 4 installments, pending April 3 AGM approval.**

AI Summary

Nokia Corporation's Board of Directors is proposing to its Annual General Meeting (AGM) on April 3, 2024, an authorization to distribute a maximum of EUR 0.13 per share. This distribution can come from retained earnings as a dividend or from the reserve for invested unrestricted equity, paid in four installments. This matters to shareholders because it signals Nokia's commitment to returning capital, potentially boosting the stock's attractiveness through regular payouts, but the exact timing and source of the funds will be determined by the Board.

Why It Matters

This proposal indicates Nokia's intention to return capital to shareholders, which can increase investor confidence and make the stock more appealing to income-focused investors.

Risk Assessment

Risk Level: low — This filing outlines a proposed capital distribution, which is generally a positive sign for shareholders and does not introduce significant new risks.

Analyst Insight

A smart investor would monitor the outcome of the April 3, 2024 Annual General Meeting to confirm the approval of the EUR 0.13 per share distribution, as this indicates a commitment to shareholder returns and could make the stock more attractive for income generation.

Key Numbers

• EUR 0.13 — Maximum aggregate distribution per share (Proposed amount to be distributed to shareholders)
• 4 — Number of installments (How the distribution will be paid out)
• 20240125 — Filing date (Date the 6-K was filed)

Key Players & Entities

• Nokia Corporation (company) — the registrant filing the 6-K
• Board of Directors (company) — proposing the distribution
• EUR 0.13 (dollar_amount) — maximum aggregate distribution per share
• April 3, 2024 (date) — date of the Annual General Meeting
• Messukeskus, Helsinki Expo and Convention Centre (company) — venue for the Annual General Meeting

Forward-Looking Statements

• The proposed EUR 0.13 per share distribution will be approved by shareholders at the AGM. (Nokia Corporation) — high confidence, target: April 3, 2024
• Nokia's stock price will see a slight positive reaction due to the proposed capital return. (Nokia Corporation) — medium confidence, target: Near-term

FAQ

Filing Documents

• tm244123d2_6k.htm (6-K) — 50KB
• tm244123d2_6kimg001.jpg (GRAPHIC) — 3KB
• 0001104659-24-006507.txt ( ) — 56KB

From the Filing

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington , D.C. 20549 FORM 6-K Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 under the Securities Exchange Act of 1934 Report on Form 6-K dated January 25, 2024 (Commission File No. 1-13202) Nokia Corporation Karakaari 7 FI-02610 Espoo Finland (Translation of the registrant’s name into English and address of registrant’s principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F : Form 40-F: Enclosures: Stock Exchange Release: Proposals by the Board of Directors to Nokia Corporation’s Annual General Meeting 2024 Stock exchange release 25 January 2024 1 (5) Nokia Corporation Stock Exchange Release 25 January 2024 at 8:10 EET Proposals by the Board of Directors to Nokia Corporation’s Annual General Meeting 2024 Nokia Corporation’s Annual General Meeting will be held on Wednesday 3 April 2024 at 13:00 (EEST) at Messukeskus, Helsinki Expo and Convention Centre, Messuaukio 1, Helsinki, Finland. The Board submits the following proposals to the Annual General Meeting. Complete proposals are available as of today at www.nokia.com/agm. The notice of the Annual General Meeting with more detailed information on the participation and voting will be published separately at a later date on the company’s website and by a stock exchange release. Authorization of the Board of Directors to decide on the distribution of dividend and assets from the reserve for invested unrestricted equity The Board of Directors proposes to the Annual General Meeting to be authorized to decide in its discretion on the distribution of an aggregate maximum of EUR 0.13 per share as dividend from the retained earnings and/or as assets from the reserve for invested unrestricted equity. The authorization will be used to distribute dividend and/or assets from the reserve for invested unrestricted equity in four installments during the period of validity of the authorization unless the Board of Directors decides otherwise for a justified reason. The proposed total authorization for asset distribution is in line with the Company’s dividend policy. The authorization would be valid until the opening of the next Annual General Meeting. The Board would make separate resolutions on the amount and timing of each distribution of the dividend and/or assets from the reserve for invested unrestricted equity so that the preliminary record and payment dates will be as set out below. The Company shall make a separate announcement of each such Board resolution. Preliminary record date Preliminary payment date 23 April 2024 3 May 2024 23 July 2024 1 August 2024 22 October 2024 31 October 2024 4 February 2025 13 February 2025 Each installment based on the resolution of the Board of Directors will be paid to a shareholder registered in the Company’s shareholders’ register maintained by Euroclear Finland Oy on the record date of the relevant installment. Board composition and remuneration Jeanette Horan has informed the Board’s Corporate Governance and Nomination Committee that she will no longer be available to serve on the Nokia Board of Directors after the Annual General Meeting. On the recommendation of the Corporate Governance and Nomination Committee, the Board proposes to the Annual General Meeting that the number of Board members be ten (10). However, should any number of the candidates proposed by the Board not be able to attend the Board, the proposed number of Board members shall be decreased accordingly. www.nokia.com Stock exchange release 25 January 2024 2 (5) On the recommendation of the Corporate Governance and Nomination Committee, the Board of Directors further proposes to the Annual General Meeting that the following current Board members be re-elected as members of the Nokia Board of Directors for a term ending at the close of the next Annual General Meeting: Timo Ahopelto, Sari Baldauf, Elizabeth Crain, Thomas Dannenfeldt, Lisa Hook, Thomas Saueressig, Søren Skou, Carla Smits-Nusteling and Kai Öistämö. In addition, it is proposed that Michael McNamara, former Executive Vice President and Chief Information Officer of Target Corporation, be elected as a new member of the Board of Directors for a term until the close of the next Annual General Meeting. Resumes of the Board candidates are presented in the Board’s proposal available as of today at www.nokia.com/agm. The Corporate Governance and Nomination Committee will propose in the assembly meeting of the new Board of Directors on 3 April 2024 that Sari Baldauf be re-elected as Chair of the Board and Søren Skou be re-elected as Vice Chair of the Board, subject to their election to the Board of Directors. On the recommendation of the Corporate Governance and Nomina

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