June 5, 2012 / 9:12 PM / 6 years ago

MasterCard announces $1.5 billion share buyback

(Reuters) - MasterCard Inc (MA.N) said it will buy back $1.5 billion worth its class A common stock after its current share repurchase program ends.

<p>A MasterCard logo is seen on a door outside a restaurant in New York, February 3, 2010. REUTERS/Shannon Stapleton</p>

At the end of May, $270 million was remaining in its previously announced $2 billion share buyback plan.

The company also declared a cash dividend of 30 cents per share payable on August 9.

The credit and debit card network operator’s shares, which have gained about 50 percent value in the last one year, closed at $408.20 on the New York Stock Exchange on Tuesday.

Reporting by Eileen Anupa Soreng in Bangalore; Editing by Joyjeet Das

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