Visa Raises Dividend 18% After CEO's Departure

Visa Inc. announced Tuesday that it will pay a quarterly cash dividend of 16.5 cents, a 17.9% increase from 14 cents in the previous quarter. The payments company said it will distribute the cash on Dec. 6 to investors who hold the stock as of Nov. 18. The news comes one day after the Foster City, California, company announced the departure of Chief Executive Charlie Scharf and ahead of the company's quarterly earnings report, which is scheduled for Monday.