MasterCard NYSE:MA adds to buyback, doubles dividend
MasterCard NYSE:MA adds to buyback, doubles dividend
MasterCard Inc.’s board authorized an additional $2-B for the repurchase of Class A shares and doubled the payment-processor’s quarterly dividend to reward shareholders.
MasterCard helps banks and merchants process card transactions, the company has benefited as consumers have eschewing cash and checks in favor of electronic payments. The company reported last week its Q-4 profit surged as revenue grew 9.7%, spurred by higher card use despite worsening economic conditions that Chief Executive Ajay Banga said dented consumer confidence.
The company said Tuesday it has about $440-M remaining under its prior $1.5-B stock-repurchase program and the new buyback plan will become effective at its completion.
MasterCard will also pay an increased dividend of 60 cents on or about May 9 to Class A and Class B shareholders of record as of 9 April.
LTNs Analysis for MA: Overall Short Intermediate Long
Bullish (0.47) Neutral (0.24) Bullish (0.44) Very Bullish (0.74)
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Paul A. Ebeling, Jnr.
Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster’s Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.
Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.
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