V Visa Inc

By Chris Wack

Visa Inc. (V) will deposit $600 million into its litigation escrow account, previously established under its U.S. retrospective responsibility plan.

The San Francisco-based credit-card company said Tuesday that under the terms of the plan, its class B shares are subject to dilution through a downward adjustment to the conversion rate to class A shares due to the deposit. The deposit will have the same effect on earnings per share as repurchasing the company's class A common stock.

Visa's deposit of the funds and the adjustment to the class B conversion rate will be conducted in accordance with its certificate of incorporation currently in effect.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

June 26, 2018 06:34 ET (10:34 GMT)

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