Nestle Meets Estimates, Organic Sales Rise - TheStreet

Updated from 2:03 a.m. EST

VEVEY, Switzerland (

TheStreet

) --

Nestle

(NSRGY) - Get Report

, the world's biggest foods company, posted 2009 profit of 10.4 billion Swiss francs ($9.55 billion), meeting the estimates of analysts, as organic sales rose 4.1%.

In 2008, Nestle had a profit of 18 billion Swiss francs including a gain from the sale of its stake in

Alcon

.

Total sales in 2009 were 107.6 billion Swiss francs, the company said in a statement Friday. Its food and beverages business had sales of 99.8 billion Swiss francs on 3.9% organic growth.

Nestle, whose brands include Perrier, Nescafe and Toll House Cookies, said operating cash flow rose by 67% to 17.9 billion Swiss francs.

Nestle's board plans to increase its dividend to 1.60 Swiss francs a share, an increase of 14.3%.

Nestle said it expects its food and beverages business to "achieve higher organic growth than in 2009" despite "continued economic uncertainty" in 2010, especially in developed countries.

Nestle said it plans to buy back ad additional 10 billion Swiss francs. An existing repurchase plan of 25 billion Swiss francs is expected to be completed this year.

-- Reported by Joseph Woelfel in New York.

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