The Chicago Entrepreneur

Mastercard hikes dividend by 16%, announces new $9 billion buyback program

Mastercard Inc. announced Tuesday afternoon that it was boosting its quarterly dividend to 57 cents a share from 49 cents a share. The new dividend, which will be paid Feb. 9, 2023 to holders of record as of Jan. 9, 2023, marks a 16% increase from the previous amount. Mastercard also announced a new $9 billion buyback program, which will take effect once the company’s prior $8 billion program is complete. The card giant still has $4.1 billion remaining on the earlier share-repurchase program. Mastercard shares were up 0.6% in after-hours trading Tuesday. The stock has declined about 3% so far this year as the S&P 500 has fallen 17%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Previous post Lawmakers tell Live Nation CEO they want answers on the Taylor Swift Ticketmaster fiasco
Next post Earnings Outlook: MongoDB stock rockets more than 25% on profit surprises