Mastercard Raises Dividend; Board Authorizes $11 Billion Share-Repurchase Plan

By Stephen Nakrosis

Mastercard said Tuesday its board has authorized an increase to the company's quarterly cash dividend, and approved a new stock-buyback plan of up to $11 billion.

The new dividend of 66 cents a share will be payable on Feb. 9, 2024, to shareholders of record on Jan. 9, 2024, the company said. Mastercard last raised its dividend, to 57 cents, in December 2022.

The company said the new share-repurchase plan will become effective at the completion of its previously announced $9 billion program. As of Dec. 1, that program had about $3.5 billion remaining.

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(END) Dow Jones Newswires

12-05-23 1640ET