MasterCard Doubles Dividend, Announces Buyback

MasterCard (NYSE: MA  ) announced Tuesday that it is doubling its quarterly dividend, from $0.30 a share to $0.60 a share. The new disbursement will be handed out on May 9 to holders of the company's Class A and B common stock as of the end of April 9. The company had been paying $0.30 a share since May 2012, when it doubled its longtime $0.15-per-share dividend.

Additionally, MasterCard announced that it is to launch a new share repurchase program that authorizes the firm to buy back up to $2 billion worth of class A shares. This repurchase program will become effective upon completion of a previously announced $1.5 billion share repurchase program that has about $440 million remaining on it.

"Our strong financial performance allows us to increase the return of cash to shareholders through our dividend and share repurchase programs," CEO Ajay Banga was quoted as saying in a company press release. "We remain focused on executing our strategy and growing our business for the future."

The company's annual general meeting is scheduled to take place June 18 at its headquarters in Purchase, N.Y.

link


Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2239033, ~/Articles/ArticleHandler.aspx, 8/27/2014 11:13:41 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement