Mastercard: raises dividend, sets new share buyback
(CercleFinance.com) - US payment processor Mastercard raised its dividend late on Tuesday, and announced a new 6.
5 billion dollar share buyback program.
The company said that it is raising its quarterly cash dividend to 33 cents per share, up 32% relative to the previous dividend of 25 cents per share.
Mastercard also approved a new share repurchase program, authorizing the company to repurchase up to 6.5 billion dollars of its common stock.
The new program will become effective on the completion of the company's previously announced 4 billion dollar share buyback program, of which the company has approximately 470 million dollars remaining.
After these announcements, Wedbush Securities maintained its "outperform" rating on the stock with a target price of 220 dollars, citing the firm's "resilient business model" with various "protection buffers."
Mastercard shares are not trading today as the US stockmarket is closed in a National Day of mourning for late President George Bush Sr.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
5 billion dollar share buyback program.
The company said that it is raising its quarterly cash dividend to 33 cents per share, up 32% relative to the previous dividend of 25 cents per share.
Mastercard also approved a new share repurchase program, authorizing the company to repurchase up to 6.5 billion dollars of its common stock.
The new program will become effective on the completion of the company's previously announced 4 billion dollar share buyback program, of which the company has approximately 470 million dollars remaining.
After these announcements, Wedbush Securities maintained its "outperform" rating on the stock with a target price of 220 dollars, citing the firm's "resilient business model" with various "protection buffers."
Mastercard shares are not trading today as the US stockmarket is closed in a National Day of mourning for late President George Bush Sr.
Copyright (c) 2018 CercleFinance.com. All rights reserved.