Visa Hikes Quarterly Dividend by 20%

Visa Inc. (NYSE:V) says it will increase its quarterly dividend by 20 percent.

The Foster City, California-based global payments company said Wednesday that it will pay a quarterly dividend of 48 cents per share on Dec. 2 to its class A shareholders of record as of Nov. 14. That is up from its most recent dividend payment of 40 cents per share.

The quarterly dividend increase raises the annual dividend rate from $1.60 per share to $1.92 per share.

Shares of Visa Inc. fell $2.39, in line with market activity, to close at $210.92.