MasterCard to split stock, raise dividend 83 pct

Created: 12/11/2013 11:35 AM WHEC.com
By: Associated Press

MasterCard is splitting its stock for the first time since the credit card processor went public more than seven years ago.

The maneuver announced Tuesday is designed to make MasterCard's stock more attractive by making it less expensive to buy individual shares.

MasterCard also is raising its quarterly dividend by 83 percent.

The 10-for-1 split calls for stockholders to receive nine additional shares for each one they already own.  That means MasterCard will issue nearly 1.1 billion more shares, an increase that will dramatically drive down its stock price.

MasterCard's stock closed Tuesday $763.61. At that value, a 10-for-1 split would lower the price to below $80.

The Purchase, N.Y. company's stock has increased nearly twentyfold from its initial public offering price of $39 in May 2006.

Severe Thunderstorm Warning

NY AREAS AFFECTED: Cayuga; Onondaga
Expires: 7/31/2014 7:30 AM


Broken Clouds
75° | 58°
  • Feels like: 60° F
  • Wind: SSW 6mph
  • Humidity: 93%
  • Fri More sun than clouds
    83° | 59°
  • Sat Scattered thunderstorms
    82° | 60°
  • Sun A few thunderstorms possible
    81° | 63°
  • Mon A few clouds
    83° | 63°