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Mastercard to buy back up to $12 billion shares

2024.12.17 17:46

(Reuters) – Mastercard (NYSE:) said on Tuesday that its board has approved a new share repurchase program, authorizing the company to buy back up to $12 billion of its Class A shares.

The payments processing behemoth also raised its quarterly dividend to 76 cents per share over previous dividend of 66 cents.

The company said its new share repurchase program will become effective at the completion of its previously announced $11 billion program.

© Reuters. FILE PHOTO: A screen displays the company logo for Mastercard Inc. on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., February 29, 2024.  REUTERS/Brendan McDermid/File Photo

As of Dec. 13, the company had about $3.9 billion remaining under the current buyback program, Mastercard said.

Shares of Mastercard inches up about 0.72% to $534.83 in after-hours trading.



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