Mastercard Raises Quarterly Dividend By 16%, Approves New $9 Bln Stock Buyback Plan

(RTTNews) - Mastercard Inc. (MA) Tuesday announced that its Board of Directors has boosted its quarterly dividend by 16% and also approved a new share buy back plan of upto $9 billion.

The company declared a quarterly cash dividend of 57 cents per share, a 16 percent increase over the previous dividend of 49 cents per share. The cash dividend will be paid on February 9, 2023 to holders of record of its Class A common stock and Class B common stock as of January 9, 2023.

The Board of Directors also approved a new share repurchase program, authorizing the company to repurchase up to $9 billion of its Class A common stock.

The new share repurchase program will become effective at the completion of the company's previously announced $8 billion program. As of December 1, 2022, the company had approximately $4.1 billion remaining under the current approved share repurchase program.