NOK
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  • Fri, Jun. 17, 9:39 AM
    • Nokia NOK declares FY15 annual of  €0.16/share.
    • Additionally, the board declared special dividend of €0.10/share payable to the holders of unvested long-term incentives. The exercise price of stock options will be adjusted by deducting special dividend from the exercise price.
    • The Board increased the planned maximum number of Restricted Shares to be granted under the Nokia Equity Program 2016 to 5.84M.
    | Fri, Jun. 17, 9:39 AM | 9 Comments
  • Apr. 29, 2014, 3:02 AM
    • As expected, Nokia (NOK) has appointed networks boss Rajeev Suri as CEO, and the company said it plans to return over €3.1B ($4.15B) to shareholders using the cash from the sale of its handset business to Microsoft.
    • The firm also said that excluding the operations sold to Microsoft, it swung to a net profit of €108M from a loss of €98M a year earlier. Sales tumbled 15% to €2.66B and missed consensus of €2.85B. Revenue at the network unit dropped 17% to €2.33B, hurt by lower services sales, currency fluctuations and divestments. (PR)
    • Suri will replace Nokia Chairman Risto Siilasmaa, who has served as interim CEO since the announcement of the Microsoft deal in September. As head of Nokia Solutions & Networks, Suri is credited with returning it to profitability.
    • Nokia intends to pay dividends of €1.8B, comprised of at least €800M in ordinary dividends for 2013 and 2014 of €0.11 a share and possibly more for this year, and a €1B special dividend of €0.26 a share. The company intends to repurchase €1.25B in shares over two years as well.
    • Nokia will cut interest-bearing debt by €2B by 2016 as part of a plan to get back its investment-grade credit rating. The plan should save €100M a year in interest. (PR)
    | Apr. 29, 2014, 3:02 AM | 58 Comments
  • Feb. 7, 2013, 3:19 AM
    Alcatel-Lucent (ALU): Q4 net loss €1.37B, €0.60 per share; revenue -1.3% to €4.1B. Takes €1.41B charge "related to the depreciation of goodwill and fixed assets." Swings to FY net loss of €1.37B from net profit of €1.1B in 2011, with revenue -5.7% to €14.45B. Won't pay dividend for 2012. As expected, CEO Ben Verwaayen will step down when a successor is found; Verwaayen has been in the job for 4 1/2 years but he's been unable to turn the company around, with the stock price falling 70% during his tenure. (PR)
    | Feb. 7, 2013, 3:19 AM | 4 Comments
  • Jan. 24, 2013, 6:19 AM

    Nokia (NOK) proposes paying no dividend for the first time in 143 years. It's not a great surprise given that the company's been slashing costs amid cratering revenues and major losses. One might ask, what took them so long? Shares +1.9% premarket.

    | Jan. 24, 2013, 6:19 AM | 13 Comments