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)