Mastercard Share Repurchase Program

(Reuters) – Mastercard (NYSE:MA) announced on Tuesday that its board has approved a new share repurchase program, allowing the company to buy back up to $12 billion of its Class A shares.

In addition, the payments processing giant has raised its quarterly dividend to 76 cents per share, up from the previous 66 cents.

The new share repurchase program will take effect upon the completion of the previously announced $11 billion program.

As of December 13, Mastercard reported approximately $3.9 billion remaining under the current buyback program.

In after-hours trading, Mastercard shares rose about 0.72% to $534.83.