Mastercard Raises Quarterly Dividend
December 06 2016 - 5:10PM
Dow Jones News
Mastercard Inc. is boosting its quarterly dividend by 3 cents a
share and setting aside an additional $4 billion to buy back
stock.
Both moves are in line with increases the company made a year
ago to its dividend and buyback plan. The Purchase, N.Y.-based
company has about $1.3 billion left under that authorization and a
market capitalization of about $114 billion.
The first payout of 22 cents a Class A share will be made on
Feb. 9 to holders of record as of Jan. 9.
Mastercard's profit has risen 7% for the first nine months of
the year, helped by an increase in transactions along with higher
volumes.
But the company, which traditionally made the bulk of business
by processing transactions, is expanding beyond traditional credit
and debit cards. In September, it struck a deal with PayPal
Holdings Inc. to increase digital transactions, including money
transfers.
Shares, up 5% this year, gained 76 cents in after-hours trading
to $102.76.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
December 06, 2016 17:55 ET (22:55 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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