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

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Mastercard Inc. MA, -2.40% 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 SPX, -1.44% has fallen 17%.

This article was originally published by Marketwatch.com. Read the original article here.

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