Financial services major Mastercard Inc. (MA) recently announced a quarterly dividend of $0.49 per share, an increase of about 11.4% from the previous dividend of $0.44 per share. The dividend will be paid on February 9, 2022, to shareholders of record as of January 7, 2022.
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Dividend Yield
The company’s annual dividend of $1.96 per share now reflects a dividend yield of 0.6% based on Tuesday’s closing price.
The company has been raising its quarterly dividend consistently over the past seven years, making it an attractive choice for investors.
New Share Repurchase Plan
Meanwhile, Mastercard’s Board of Directors has also approved a new share repurchase program. Under the terms of the plan, the company has been authorized to repurchase up to $8 billion of its Class A common stock.
The new program will become effective at the completion of the company’s $6 billion program announced earlier. MA has roughly $4.4 billion remaining under the current program authorization.
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Price Target
Recently, Robert W. Baird analyst David Koning reiterated a Buy rating on the stock with a price target of $494, which implies upside potential of 56.9% from current levels.
Consensus among analysts is a Strong Buy based on 11 unanimous Buys. The average Mastercard price target of $441.09 implies upside potential of 40.1% from current levels. Shares have declined 7.1% over the past year.
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