Nestle FY20 Profit Down, Organic Sales Rise; Lifts Dividend; Sees Growth Ahead
VEVEY (dpa-AFX) - Swiss food and beverage giant Nestle SA reported Thursday lower profit in its fiscal 2020 with weak sales. However, sales increased organically, and the company continues to expect organic sales growth in fiscal 2021 towards a mid single digit rate.
For fiscal 2021, the company projects an increase in underlying earnings per share in constant currency and underlying trading operating profit margin with continued moderate improvement.
For the mid-term, the company anticipates sustained mid single-digit organic sales growth and continued moderate underlying trading operating profit margin improvement.
Further, Nestle said its Board of Directors will propose a dividend of 2.75 francs per share, an increase of 5 centimes, at the Annual General Meeting on April 15. The recording date of the dividend will be April 16, and payable as from April 21.
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