Mastercard raises dividend by 11%, OKs $8 billion buyback program

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Mastercard Inc. MA, -2.50% said late Tuesday its board of directors authorized an 11% dividend increase and an $8 billion share buyback program. The dividend of 49 cents a share will be paid on Feb. 9 to shareholders of record as of Jan. 7, the company said. The new share repurchase program will become effective at the end of the company’s previously announced $6 billion program. Mastercard said it had about $4.4 billion remaining under the current program authorization. Shares of Mastercard rose 1% in the extended session Tuesday after ending the regular trading day down 2.5%.

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

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