Mastercard's board of directors has approved a new share repurchase plan, authorizing the company to repurchase up to $11 billion of Class A shares.
The Zhitong Finance app learned that Mastercard (MA.US) announced on Tuesday that its board of directors has approved a new share repurchase plan, authorizing the company to repurchase up to 11 billion US dollars of Class A shares. The new share repurchase plan will take effect after the previously announced $9 billion plan is completed.
Additionally, the payment processing giant raised its quarterly dividend to 66 cents per share, up from 57 cents previously.
After the news was announced, Mastercard rose about 1% after the market to 411.75 US dollars.
Notably, its competitor Visa (V.US) also authorized a new $25 billion multi-year share repurchase plan in October.