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Mastercard on Tuesday said its board approved a new share buyback program that will authorize the company to repurchase up to $11 billion worth of its Class A shares.
The company said its new share repurchase program will become effective at the completion of its previously announced $9 billion program.
The payments processing giant also raised its quarterly dividend to 66 cents per share over previous dividend of 57 cents, Reuters reported.
Mastercard share price gained about 1% to $411.75 in after-hours trading.
(With inputs from Reuters)
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