Procter & Gamble Maintains 2021 Outlook; To Pay More Than $8 Bln In Dividends

(RTTNews) - The Procter & Gamble Company (PG) said it continues to expect fiscal 2021 GAAP net earnings per share growth in the range of eight to ten percent from fiscal 2020 GAAP EPS of $4.96. It maintained guidance for core earnings per share growth in the range of eight to ten percent. The company maintained its outlook for fiscal 2021 all-in and organic sales growth in the range of five to six percent.

The Procter & Gamble Company expects to pay more than $8 billion in dividends in fiscal 2021. The company increased its outlook for stock repurchase from up to $10 billion to approximately $11 billion. Combined, the company now plans to return about $19 billion of cash to shareowners in fiscal 2021.

Third quarter net earnings per share were $1.26, an increase of 13% from prior year reported EPS and eight percent from prior year core EPS. On average, 17 analysts polled by Thomson Reuters expected the company to report profit per share of $1.19, for the quarter. Analysts' estimates typically exclude special items.

Third quarter net sales were $18.1 billion, an increase of five percent. Organic sales increased four percent. Analysts expected revenue of $17.9 billion, for the quarter.