Mastercard to buy back $2bn

City A.M. Reporter
MASTERCARD doubled its quarterly cash dividend and said it would buy back up to $2bn (£1.3bn) of Class A shares, yesterday, just days after reporting strong fourth-quarter results helped by its performance in emerging markets.

The programme will become effective after the company completes its existing $1.5bn repurchase programme, which had about $440m remaining as of 25 January. The new dividend of 60 cents per share will return $75m every quarter.