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Nokia Corporation (ADR)(NYSE:NOK) Shares Hit 3-Year High

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By on Technology & Software

Nokia Corporation (ADR)(NYSE:NOK) shares hit a three-year high after shareholders approved the buyback of up to 370 million shares before Dec. 17, 2015.  NOK was up more than 2% in recent trade touching a high of $8.23, the best level since May 2011. 

The annual general meeting also authorized the board to issue up to 740 million shares to diversify the shareholder base, finance or carry out acquisitions. 

Meanwhile, the annual general meeting also resolved to distribute an ordinary dividend of 0.11 euros per share as well as a special dividend of 0.26 euros per share, to be paid on July 3. 

Separately, Finnish TV station MTV reported that Nokia paid several million euros to criminals who threatened to reveal the source code for part of an operating system used in smartphones about six years ago. Reuters cited Finnish police as saying it was investigating a case of alleged blackmail and that the case was still open.

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