Givaudan Raises Dividends After 2020 Profits Rose

   By Pietro Lombardi

Givaudan SA is increasing its dividend after posting a slight growth in profit for last year and achieving its targets.

The Swiss flavor-and-fragrance company said Friday that net profit for last year was 743 million Swiss francs ($836.2 million) compared with CHF702 million a year earlier.

Sales also rose to CHF6.32 billion from CHF6.20 billion.

Givaudan is raising dividends by 3.2% to CHF64 a share.

The company has achieved the targets it had set in its 2016-20 strategy, it said.

Looking ahead, it targets organic sales growth of 4%-5% on a like-for-like basis and free cash flow of at least 12% through 2025, both goals measured as an average over the five-year period.

Write to Pietro Lombardi at pietro.lombardi@wsj.com; @pietrolombard10

(END) Dow Jones Newswires

January 29, 2021 02:36 ET (07:36 GMT)

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