Mastercard unveils new $12B stock buyback program; hikes quarterly dividend

Investing.com -- Mastercard announced Tuesday a $12 billion stock buyback program and the payments company also hiked its quarterly dividend. 

The new $12B stock buyback programme is set to become effective at the completion of its previously announced $11B program. As of Dec. 13, the company had approximately $3.9B remaining under $11B share repurchase program.

The company announced a quarterly cash dividend of 76 cents per share, up 15% increase over the previous dividend of 66 cents per share. The dividend would be paid on Feb. 7, 2025 to holders of record as of Jan. 9, 2025.

Mastercard Inc (NYSE:MA ) was up slightly in afterhours trading following the news.

Source: Investing.com