Mastercard Unveils New $4 Billion Share-Repurchase Plan
Mastercard Inc.'s board of directors has approved a new $4 billion share repurchase plan that will go into effect after its current $4 billion buyback is completed, states the Wall Street Journal (Dec. 5). The global payments company said the current program has $1.5 billion remaining. Additionally, Mastercard's board declared a quarterly cash dividend of 25 cents a share, a 14 percent increase, that will be paid on Feb. 9 to shareholders of record as of Jan. 9. "In late October, the Purchase, N.Y.-based company said it beat analyst expectations for both net income and revenue in its third quarter," notes the newspaper. "It cited increased consumer spending, market-share gains against smaller networks overseas and a continuing shift of payments to cards from cash for the rise in revenue."
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