Nestle to Return up to CHF20 Billion to Shareholders in 2020-22; Nine-Month Sales Rose
October 17 2019 - 2:05AM
Dow Jones News
By Pietro Lombardi
Nestle SA (NESN.EB) said Thursday that it will distribute up to
20 billion Swiss francs ($20.07 billion) to its shareholders
between 2020 and 2022 and that its nine-month sales rose.
The Swiss consumer-goods giant said it will return money to
shareholders primarily through buybacks. This will happen as it
keeps its sustainable dividend policy, it added.
"The distribution reflects Nestle's continued strong cash
generation as well as significant cash inflows from disposals," it
said.
Sales for the period were CHF68.37 billion compared with
CHF66.42 billion a year earlier, supported by the performance of
its businesses in Brazil and the U.S.
Analysts had expected the company to report sales of CHF68.74
billion for the period, according to a consensus forecast provided
by the company.
Organic growth for the period was 3.7%, while real internal
growth was 3%.
The company backed its 2019 outlook, including organic sales
growth of around 3.5% and an increase in underlying earnings per
share in constant currency and capital efficiency
"We continue to see good momentum in our largest market, the
United States and very strong growth for Purina PetCare globally,"
Chief Executive Mark Schneider said.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
October 17, 2019 01:50 ET (05:50 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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