Mastercard Board of Directors Announces Quarterly Dividend and $11 Billion Share Repurchase Program

Rhea-AI Summary

Mastercard Incorporated (NYSE: MA) has declared a 16 percent increase in its quarterly cash dividend to 66 cents per share from the previous 57 cents per share. The company also announced a new share repurchase program of up to $11 billion, effective upon completion of the current $9 billion program. As of December 1, 2023, approximately $3.5 billion remains under the current repurchase program.

Positive

• 16 percent increase in quarterly cash dividend
• New share repurchase program of up to $11 billion
• Approximately $3.5 billion remaining under the current approved share repurchase program

Negative

• None.

PURCHASE, N.Y.--(BUSINESS WIRE)-- Mastercard Incorporated (NYSE: MA) today announced that its Board of Directors has declared a quarterly cash dividend of 66 cents per share, a 16 percent increase over the previous dividend of 57 cents per share. The cash dividend will be paid on February 9, 2024 to holders of record of its Class A common stock and Class B common stock as of January 9, 2024.

The Board of Directors also approved a new share repurchase program, authorizing the company to repurchase up to $11 billion of its Class A common stock.

The new share repurchase program will become effective at the completion of the company’s previously announced $9 billion program (December 2022). As of December 1, 2023, the company had approximately $3.5 billion remaining under the current approved share repurchase program.

About Mastercard Incorporated (NYSE: MA), www.mastercard.com

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

Forward Looking Statements

Statements in this press release which are not historical facts are forward-looking and subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words “believe”, “expect”, “could”, “may”, “would”, “will”, “trend” and similar words are intended to identify forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements relating to the manner and amount of purchases by Mastercard pursuant to its share repurchase program dependent upon price and market conditions, as well as Mastercard’s future prospects, developments and business strategies. Forward-looking statements speak only as of the date they are made, and the company undertakes no duty to update any forward-looking statements made in this press release or to conform such statements to actual results or changes in the company’s expectations.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231205649394/en/

Mastercard Investor Relations

Jud Staniar, 914-249-4565

investor.relations@mastercard.com

Mastercard Communications

Seth Eisen, 914-249-3153

Seth.Eisen@mastercard.com

Source: Mastercard Investor Relations

FAQ

What is the quarterly cash dividend declared by Mastercard Incorporated (NYSE: MA)?

The quarterly cash dividend declared by Mastercard Incorporated (NYSE: MA) is 66 cents per share, a 16 percent increase over the previous dividend of 57 cents per share.

When will the cash dividend be paid to holders of record of Mastercard Incorporated (NYSE: MA) Class A and Class B common stock?

The cash dividend will be paid on February 9, 2024 to holders of record of Mastercard Incorporated (NYSE: MA) Class A and Class B common stock as of January 9, 2024.

What is the new share repurchase program approved by Mastercard Incorporated (NYSE: MA)?

Mastercard Incorporated (NYSE: MA) approved a new share repurchase program, authorizing the company to repurchase up to $11 billion of its Class A common stock, effective at the completion of the current $9 billion program.

How much remains under the current approved share repurchase program of Mastercard Incorporated (NYSE: MA)?

As of December 1, 2023, approximately $3.5 billion remains under the current approved share repurchase program of Mastercard Incorporated (NYSE: MA).