Nokia 2007 Annual Report Download - page 10

request for a certain minimum distribution, the distribution may not exceed the amount proposed by
the Board of Directors.
Share Buybacks
Under the Finnish Companies Act, Nokia Corporation may repurchase its own shares pursuant to
either a shareholders’ resolution or an authorization to the Board of Directors approved by the
company’s shareholders. The authorization may amount to a maximum of 10% of all the shares of
the company (up to 5% until 2005) and its maximum duration is 18 months (up to 12 months until
2006). Our Board of Directors has been regularly authorized by our shareholders at the Annual General
Meetings to repurchase Nokia’s own shares since 2001, and during the past three years the
authorization covered 443.2 million shares in 2005, 405 million shares in 2006 and 380 million shares
in 2007. The amount authorized each year has been at or slightly under the maximum limit provided
by the Finnish Companies Act.
On January 24, 2008, we announced that the Board of Directors will propose for shareholders’
approval at the Annual General Meeting convening on May 8, 2008 a new authorization to repurchase
a maximum of 370 million shares. The maximum amount corresponds to less than 10% of Nokia’s
share capital and total voting rights. The authorization would be effective until June 30, 2009.
The table below sets forth actual share buybacks by the Group in respect of each fiscal year
indicated.
Number of shares
EUR millions
(in total)
2003 ..................................................... 95338500 1363
2004 ..................................................... 214119700 2661
2005 ..................................................... 315010000 4265
2006 ..................................................... 212340000 3412
2007 ..................................................... 180590000 3884
For more information about share buybacks during 2007, see “Item 16E Purchases of Equity
Securities by the Issuer and Affiliated Purchasers.”
Dividends
On January 24, 2008, we announced that the Board of Directors will propose for shareholders’
approval at the Annual General Meeting convening on May 8, 2008 a dividend of EUR 0.53 per share in
respect of 2007.
The table below sets forth the amounts of total cash dividends per share and per ADS paid in respect
of each fiscal year indicated. For the purposes of showing the US dollar amounts per ADS for 2003
through 2007, the dividend per share amounts have been translated into US dollars at the noon
buying rate in New York City for cable transfers in euro as certified for customs purposes by the
Federal Reserve Bank of New York (the “noon buying rate”) on the respective dividend payment dates.
EUR per share USD per ADS
EUR millions
(in total)
2003 ............................................. 0.30 0.36 1 439
2004 ............................................. 0.33 0.43 1 539
2005 ............................................. 0.37 0.46 1 641
2006 ............................................. 0.43 0.58 1 761
2007 ............................................. 0.53
(1)
—
(2)
2 111
(1)
(1)
To be proposed by the Board of Directors for shareholders’ approval at the Annual General
Meeting convening on May 8, 2008.
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