Nokia: new cash management policy cheered
(CercleFinance.com) - Nokia shares are up 4% on the OMX today, as the network equipment maker announced yesterday evening that it has changed its cash management policy, aiming to maintain a net cash position of around 10%-15% of its revenues.
At the end of 2022, the Finnish company had a net cash position of around 19% of its revenues. Its previous cash target was to maintain a gross cash position of at least 30% of them.
Nokia says it now wants to focus on maintaining its investment grade credit rating and improving returns to its shareholders based on the performance of its business.
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At the end of 2022, the Finnish company had a net cash position of around 19% of its revenues. Its previous cash target was to maintain a gross cash position of at least 30% of them.
Nokia says it now wants to focus on maintaining its investment grade credit rating and improving returns to its shareholders based on the performance of its business.
Copyright (c) 2023 CercleFinance.com. All rights reserved.