“(Reuters) – MasterCard Inc doubled its quarterly cash dividend and said it would buy back up to $2 billion of its Class A shares, days after the card payment network reported strong fourth- quarter results helped by its performance in emerging markets.
The new buyback program will become effective after the company completes its existing $1.5 billion repurchase program, which had about $440 million remaining as of January 25.
MasterCard shares were up 1.4 percent before the bell.
The new dividend of 60 cents per share effectively returns $75 million to shareholders every quarter, based on 124 million shares outstanding as of January 31.
“Our strong financial performance allows us to increase the return of cash to shareholders through our dividend and share repurchase programs,” MasterCard Chief Executive Ajay Banga said in a statement.
MasterCard’s fourth-quarter results topped Wall Street estimates, but the company said global economic uncertainty could slow revenue growth in 2013….”
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