Mastercard hikes dividend by 15.8%, approves new $11 billion share buyback

Mastercard (NYSE:) increased its quarterly cash dividend by 15.8% to $0.66 per share, or $2.64 annualized, with an annual yield of 0.6%.

The dividend will be payable on February 9, 2024, to stockholders of record on January 9, 2024, with an ex-dividend date of January 8, 2024.

Furthermore, the Board of Directors approved a new share repurchase program, authorizing the company to repurchase up to $11 billion of its Class A common stock.

This new program will become effective following the completion of the existing $9B share repurchase program, which was announced in Dec 2022. As of Dec 1, 2023, about $3.5B remains available for repurchase under the current program.