Mastercard Unveils New $4 Billion Share Repurchase Plan

Mastercard Inc.'s (MA) board approved a new $4 billion share repurchase plan, the company said Monday, which will become effective after its previous buyback is finished.

In a news release, the global payments company said its previous $4 billion stock buyback program has $1.5 billion remaining under its current authorization.

In addition, Mastercard's board declared a quarterly cash dividend of 25 cents a share, a 14% increase over its previous dividend of 22 cents a share.

The dividend will be paid on Feb. 9 to shareholders of record of its Class A common stock and Class B common stock as of Jan. 9.

(END) Dow Jones Newswires

December 04, 2017 23:58 ET (04:58 GMT)