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Mastercard to repurchase up to $4 billion of its shares


(Reuters) - Payment processor Inc said on Monday it would buy back up to $4 billion of its class A

The new share repurchase program will be effective at the completion of the company's previously announced $4 billion share repurchase program, said.

Under the previously announced buyback, the company has about $1.5 billion remaining, the statement added.

The company said it also increased its quarterly cash dividend to 25 cents per share, a 14 percent increase over the previous dividend of 22 cents a share.

had 1.04 billion class A and 15.1 million class B as of Oct. 26.

(Reporting by Kanishka Singh in Bengaluru; Editing by Peter Cooney)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, December 05 2017. 06:25 IST