UPDATE 1-Tod's 2009 div tops expectations, sees higher 2010

* 2009 net profit 1.5 euros/share; net profit 85.7 mln euros

* CEO says sees higher revenues, profit in 2010

* Shares up 0.8 percent in weak market

(Adds details, shares)

MILAN, March 22 (Reuters) - Italian designer shoe and bag maker Tod's TOD.MI will pay a higher than expected dividend on 2009 profit that beat forecasts, and said it expected further growth on the back of orders for its autumn/winter collection.

Tod’s, best known for its soft-pebbled loafers and luxury handbags, said on Monday it would pay a 2009 dividend of 1.5 euros, above expectations for 1.28 euros a share.

Tod’s said net profit in 2009 rose 3 percent to 85.7 million euros ($116 million), topping analyst estimates as sales and margins grew.

“I think that in 2010 too we will report a further rise in revenues and profits,” chairman and chief executive Diego Della Valle said.

Tod's, along with French groups Hermes HRMS.PA and Louis Vuitton LVMH.PA, is among a few fashion and leather goods brands to have bucked a slump in luxury spending in the downturn.

Its shares were up 0.8 percent at 52.59 euros at 1323 GMT, while the broader Milan index .FTITLMS was down 1.1 percent. (Reporting by Danilo Masoni; Editing by Dan Lalor) ($1 = 0.7401 euro)