MasterCard Announces $4 Bln Share Buyback; Lifts Quarterly Cash Dividend By 14%

(RTTNews) - Mastercard Inc. (MA) announced that its Board of Directors approved a new share repurchase program, authorizing the company to repurchase up to $4 billion of its Class A common stock.

The company said that the new share repurchase program will become effective at the completion of the company's previously announced $4 billion share repurchase program.

The company specified that it has approximately $1.5 billion remaining under the current program authorization.

The company also declared a quarterly cash dividend of 25 cents per share, a 14 percent increase over the previous dividend of 22 cents per share. The cash dividend will be paid on February 9, 2018 to holders of record of its Class A common stock and Class B common stock as of January 9, 2018.