RTTNews | Feb 3, 2021 01:56AM EST

01:56 Wednesday, February 3, 2021 (RTTNews.com) - 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.

Read the original article on RTTNews ( https://www.rttnews.com/3166181/novo-nordisk-fy20-results-rise-plans-dividend-dkk-17-bln-share-buy-back-sees-growth-in-fy21.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved