PURCHASE, N.Y. (AP) -- MasterCard is doubling its quarterly dividend to 60 cents per share and says its board approved the repurchase of up to $2 billion of its common stock.
MasterCard Inc., which is based in Purchase, N.Y., said Tuesday that the increased quarterly dividend will be paid on May 9 to shareholders of record on April 9.
The credit card company says that its new buyback will become effective once it completes its $1.5 billion repurchase program. MasterCard had about $440 million remaining under that repurchase program as of Jan. 25.
Its shares rose $6.26, or 1.2 percent, to $520.49 in premarket trading.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
The pope invited a teen with Down Syndrome up to his car for a spin.
Don't look for the movie about Jodi Arias to be about her trial. (Video)
Ed Koch planned every detail of his funeral - except one crucial date.
The U. of Oregon is cracking down on a fan favorite.