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MasterCard doubles dividend, to buy back $2 billion of shares

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02/05/2013 | 03:01pm CEST
An employee stands behind a MasterCard logo during the launch of the international credit card issuer's first ATM transaction in Myanmar, in Yangon

(Reuters) - MasterCard Inc (>> 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.

(Reuters) - MasterCard Inc (>> 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.

MasterCard, the world's second-biggest debit and credit card network after Visa Inc (>> Visa Inc), has been boosting its presence in markets previously dominated by cash.

Both companies have been growing faster in Africa, Asia and the Middle East than in the United States in recent quarters.

Shares of the Purchase, New York-based company closed at $514.22 on the New York Stock Exchange on Monday. The shares have risen nearly 10 percent in the last three months.

(Reporting by Anil D'Silva; Editing by Saumyadeb Chakrabarty and Ted Kerr)

Stocks treated in this article : Mastercard Inc, Visa Inc
Stocks mentioned in the article
ChangeLast1st jan.
MASTERCARD -0.39% 191.17 Delayed Quote.26.79%
VISA -0.46% 131.28 Delayed Quote.15.14%
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Financials ($)
Sales 2018 20 495 M
EBIT 2018 13 777 M
Net income 2018 10 462 M
Debt 2018 8 397 M
Yield 2018 0,63%
P/E ratio 2018 29,21
P/E ratio 2019 25,26
EV / Sales 2018 14,9x
EV / Sales 2019 13,4x
Capitalization 296 B
Chart VISA
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Visa Technical Analysis Chart | V | US92826C8394 | 4-Traders
Technical analysis trends VISA
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 36
Average target price 141 $
Spread / Average Target 7,1%
EPS Revisions
Managers
NameTitle
Alfred F. Kelly Chief Executive Officer & Director
Ryan McInerney President
Robert W. Matschullat Independent Chairman
Vasant M. Prabhu Chief Financial Officer & Executive Vice President
Rajat Taneja Executive Vice President-Technology
Sector and Competitors
1st jan.Capitalization (M$)
VISA15.14%296 287
MASTERCARD26.79%199 733
PAYPAL HOLDINGS9.97%96 131
PALO ALTO NETWORKS INC44.40%19 223
MIMECAST LTD53.75%2 548
XIAMEN MEIYA PICO INFORMATION CO LTD--.--%1 361