: Mastercard raises dividend by 16%

Mastercard Inc. MA late Tuesday said that its board has declared a quarterly cash dividend of 66 cents a share, a 16% increase over the previous dividend of 57 cents per share. The dividend will be paid on Feb. 9 to shareholders of record on Jan. 9. The board has also approved a new share buyback program, authorizing the company to repurchase up to $11 billion of its shares, the company said. The new program will be effective at the end of Mastercard’s previously announced $9 billion program in December 2022. As of Dec. 1, the company had about $3.5 billion remaining under that plan. Shares of Mastercard rose 0.7% in the extended session Tuesday, after ending the regular trading day up 0.1%.

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