MasterCard Inc doubled its quarterly cash dividend to 60 cents per share and said it would buy back up to $2 billion of its Class A shares.

The new buyback program will become effective after the company completes its previously announced $1.5 billion repurchase program.

MasterCard said it had about $440 million remaining under the current plan as of January 25.

(Reporting by Anil D'Silva; Editing by Saumyadeb Chakrabarty)