Credit card giant Mastercard (MA) has increased its quarterly dividend payment to shareholders by 16% and announced a new stock buyback program.
The company said that effective immediately it is raising its quarterly dividend to $0.66 U.S. from $0.57 U.S., giving it a yield of 0.64%.
The company also announced an $11 billion U.S. share repurchase program, which will begin once its current $9 billion U.S. plan, which has $3.5 billion U.S. remaining, is finished.
Mastercard’s stock rose nearly 1% in premarket trading on news of the dividend increase and new stock buyback program.
In 2023, Mastercard’s stock has risen 18% and currently trades at $408.69 U.S. per share.
