Novo Nordisk FY20 Results Rise; Plans Dividend, DKK 17 Bln Share Buy Back; Sees Growth In FY21

(RTTNews) - Danish pharmaceutical company Novo Nordisk A/S (NVO) reported Wednesday that its fiscal 2020 net profit increased 8 percent to 42.14 billion Danish kroner from last year's 38.95 billion kroner.

Earnings per share were 18.01 kroner, up 10 percent from 16.38 kroner a year ago.

Net sales grew 4 percent to 126.95 billion kroner from 122.02 billion kroner last year.

Further, the company said its its Board will propose a final dividend of 5.85 kroner. The total dividend would be 9.10 kroner.

In addition, the company said it intends to initiate a new 12-month share repurchase program of up to 17 billion kroner.

Looking ahead, for fiscal 2021, sales growth is expected to be 5 percent to 9 percent, and operating growth is expected to be 4 percent to 8 percent, both at constant exchange rates.