Mastercard Boosts Quarterly Dividend, Share-Repurchase Plan Approved
December 04 2018 - 4:10PM
Dow Jones News
By Maria Armental
Mastercard Inc. (MA) is raising its quarterly dividend by 8
cents and its board approved a $6.5 billion share repurchase plan,
the company said Tuesday.
The first 33 cents-a-share payout is slated for Feb. 8 to
shareholders of record as of Jan. 9. The latest dividend boost is
larger than previous increases in recent years, which each had
added roughly 3 cents to the quarterly payout.
The $6.5 billion repurchase program for Class A shares will go
into effect after the current program is exhausted. Mastercard has
about $470 million left under last year's $4 billion
authorization.
Mastercard, like other credit-card companies, has benefited by
higher consumer spending. For the first nine months of the year,
Mastercard reported that its profit surged by roughly one-third
from a year earlier, to about $5 billion.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
December 04, 2018 15:55 ET (20:55 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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