Mastercard increases dividend by 16%, announces share buyback program

Mastercard Inc. said late Tuesday its board of directors has approved a dividend increase and a $4 billion share buyback plan. The dividend will rise 16% to 22 cents a share, from 19 cents a share, payable Feb. 9 to shareholders of record Jan. 9. The new share repurchase program will be effective as the credit-card company completes its previously announced $4 billion share buyback program, of which about $1.3 billion remain. Shares of Mastercard rose 0.8% in late trading after ending the regular trading session down 1.5%.

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