MasterCard to buy back shares worth US$4b

[BENGALURU] Payment processor MasterCard Inc said on Tuesday it would buy back class A shares worth US$4 billion and raised its quarterly dividend.

The new share repurchase programme will be effective at the completion of the company's previously announced US$4 billion share repurchase programme, under which it has about US$1.3 billion remaining.

The company also increased its quarterly cash dividend to 22 cents per share, a 16 per cent increase over the previous dividend of 19 cents per share.

MasterCard had 1.09 billion class A shares and 21.3 million class B shares as of Dec 31.

REUTERS