MasterCard Inc., the second-biggest payments network, doubled its quarterly dividend to 30 cents a share after reporting fourth-quarter profit that beat analysts’ estimates.
Investors who own the Class A and Class B stock as of April 9 will be paid on May 9, according to a statement today from MasterCard. The last time MasterCard said it was raising the dividend was in February 2007.
MasterCard, led by Chief Executive Officer Ajay Banga, surged 66 percent last year to the fourth-best performance in the Standard & Poor’s 500 Index. The Purchase, New York-based firm has been boosted by a global shift from cash and checks to electronic payments.
Net income for the fourth quarter increased to $514 million, or $4.03 a share, from $415 million, or $3.17, a year earlier. MasterCard’s total profit for 2011 increased 3.3 percent.
MasterCard advanced $1.86 to $393.17 at 12:07 p.m. in New York.