With shares trading well above $700, MasterCard (MA) has decided to carry out a 10:1 split. Share distribution is set for Jan. 21; the record date is Jan. 9. (PR)
The transaction processing giant is also hiking its quarterly dividend by 83% to $1.10/share ($0.11/share post-split), and announcing a new $3.5B buyback program. The new buyback will kick in once the $514M remaining on an existing $2B authorization is used up.
The dividend hike leaves MasterCard sporting a 0.57% yield. MasterCard's next dividend will be paid on Feb. 10 to shareholders on record as of Jan. 9.
Between its new and old buyback funds, the company is capable of repurchasing 4.3% of outstanding shares at current levels.