Nokia Shareholders to Vote on Flexible Dividend and New Leadership

Nokia's 2026 AGM features a new flexible dividend policy, board leadership changes, and a request for share issuance authorization amid strong share price performance.

Nokia shareholders will convene at the Finlandia Hall in Helsinki on Thursday, April 9, 2026, for the company's Annual General Meeting. The gathering occurs as the company's shares trade at a multi-year high, with a significant agenda covering capital allocation, board composition, and strategic authorizations.

Capital Allocation and Macroeconomic Context

A central proposal from the board involves a shift in dividend policy. Instead of declaring a fixed payout at the AGM, shareholders are being asked to authorize the Board of Directors to distribute up to €0.14 per share across four tranches throughout the year. This flexible model is designed to provide Nokia with greater discretion over its capital allocation.

The meeting's decisions are set against a mixed operational backdrop. The company has flagged an expected €50 to €80 million headwind for 2026, attributed to currency volatility and trade policy pressures. Offsetting this concern is a recently signed multi-year agreement with Virgin Media O2 to expand the 5G network in the United Kingdom. Investors will gain further clarity on the operational performance when Nokia releases its Q1 2026 quarterly figures on April 23, 2026.

Leadership Transition and Board Nominations

Significant changes are slated for the company's supervisory board. Chair Sari Baldauf will not stand for re-election. The board intends to nominate Timo Ihamuotila as the new Chair, with Thomas Saueressig proposed as the Deputy Chair.

A new candidate, Meredith Whittaker, is also nominated for a board seat. Due to an existing advisory role with Nokia Bell Labs, she is not considered an independent director. Consequently, her participation is expected to be confined to the Technology Committee.

Share Issuance Authorization

Another key item for shareholder approval is a capital measure. The board seeks authorization to issue up to 550 million new shares, representing less than ten percent of the current total share count. This authorization, if granted, would remain valid until October 2027.