Nordea Bank has successfully concluded its share repurchase program, securing 195,531 of its own shares (ISIN: FI4000297767) across various public trading venues. The average purchase price per share was EUR 10.10, resulting in a total expenditure of EUR 1,974,892.08. This repurchase initiative, amounting to EUR 1.0 billion, was initially announced in April 2023 and authorized during the subsequent Annual General Meeting.
The transactions were executed in compliance with Regulation No. 596/2014 of the European Parliament and Council, dated April 16, 2014 (MAR), and the Commission Delegated Regulation (EU) 2016/1052. The exchange rates utilized for the transactions were SEK to EUR 11.6985 and DKK to EUR 7.4617.
With the successful completion of these transactions, Nordea Bank now possesses a total of more than 11 million treasury shares, which are intended for capital optimization purposes, along with nearly five million additional treasury shares reserved for remuneration purposes. Morgan Stanley Europe SE made this announcement on behalf of Nordea Bank.
InvestingPro Insights
In light of Nordea Bank Abp’s recent share buyback, a few noteworthy insights come to the forefront. The bank has demonstrated a notable acceleration in revenue growth, reporting a 29.5% increase over the past twelve months, as of Q3 2023. Furthermore, there has been consistent growth in earnings per share, which might be indicative of a positive financial trajectory for the bank.
Lastly, Nordea Bank is offering a substantial dividend to its shareholders, with a yield of 7.88% at the close of 2023. This could be an attractive feature for investors focused on income. For further insights like these, readers are encouraged to explore InvestingPro’s comprehensive range of tips and data.
