PURCHASE, N.Y.--(BUSINESS WIRE)--Jun. 5, 2012-- MasterCard Incorporated (NYSE: MA) today announced that its Board of Directors has declared a cash dividend of $0.30 per share payable on August 9, 2012 to holders of record of its Class A common stock and Class B common stock as of July 9, 2012.
The Board of Directors also approved a new share repurchase program authorizing the Company to repurchase up to $1.5billion of its Class A common stock.
The new $1.5 billion share repurchase program will become effective at the completion of the Company's previously announced $2 billion Class A share repurchase program. As of May 31, 2012, the Company had approximately $270 million remaining under the current $2 billion share repurchase program authorization.
"This stock repurchase program is the result of a periodic review of our capital structure," said Ajay Banga, president and chief executive officer, MasterCard Worldwide. "Our strong and consistent cash flow generation affords us the flexibility to return cash to our shareholders through tools such as this stock repurchase program, while continuing to pursue our business strategy and invest in the growth of our business."
About MasterCard Incorporated
MasterCard
(NYSE: MA),
www.mastercard.com
, is a global payments and technology company. It operates the world's fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard's products and solutions make everyday commerce activities - such as shopping, traveling, running a business and managing finances - easier, more secure and more efficient for everyone. Follow us on Twitter
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Forward-Looking Statements
Statements in this press release which are not historical facts, including statements about MasterCard's plans, strategies, beliefs and expectations, are forward-looking and subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements speak only as of the date they are made. Accordingly, except for the company's ongoing obligations under the U.S. federal securities laws, the company does not intend to update or otherwise revise the forward-looking information to reflect actual results of operations, changes in financial condition, changes in estimates, expectations or assumptions, changes in general economic or industry conditions or other circumstances arising and/or existing since the preparation of this press release or to reflect the occurrence of any unanticipated events. Such forward-looking statements include, without limitation, statements relating to the manner and amount of purchases by MasterCard pursuant to its share repurchase program dependent upon price and market conditions.
Actual results may differ materially from such forward-looking statements for a number of reasons, including those set forth in the company's filings with the Securities and Exchange Commission (SEC), including the company's Annual Report on Form 10-K for the year ended December 31, 2011 and the company's Quarterly Reports on Form 10-Q and Current Reports on Form 8-K that have been filed with the SEC during 2012, as well as reasons including difficulties, delays or the inability of the company to achieve its strategic initiatives set forth above. Factors other than those listed above could also cause the company's results to differ materially from expected results.
Source: MasterCard Incorporated
MasterCard Incorporated
Investor Relations:
Barbara Gasper, 914-249-4565
investor_relations@mastercard.com
or
Media Relations:
Chris Monteiro, 914-249-5826
chris_monteiro@mastercard.com