ALSO READNestle plans $20.8 bn share buyback over 3 years amid Third Point pressure Infosys approves up to $2 billion buyback of shares CORRECTED: Infosys approves up to $2 billion buyback of shares Mastercard beats profit estimates on higher consumer spending Mastercard posts record profit on higher global spending
The new share repurchase program will be effective at the completion of the company's previously announced $4 billion share repurchase program, Mastercard 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.
(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.)