MasterCard (MA) will raise its quarterly dividend by 45.5 percent to $0.16 per share in the first quarter of 2015. 

“Today’s dividend and share repurchase program announcement comes as a result of our continued, strong financial performance,” said Ajay Banga, president and CEO, MasterCard. “We remain committed to delivering value to our shareholders, while investing in the growth of our business.”

The Board of Directors also approved a new share repurchase program authorizing the company to repurchase up to $3.75 billion of its Class A common stock. The new share repurchase program will become effective at the completion of the company’s previously announced $3.5 billion share repurchase program. As of December 1, 2014, the company had approximately $275 million remaining under the current program authorization.

Mastercard Incorporated is a technology company in the global payments industry that connects consumers, financial institutions, merchants, governments, digital partners, businesses and other organizations worldwide, enabling them to use electronic forms of payment instead of cash and checks. The company provides a wide variety of integrated products and services that support payment products that customers can offer to their account holders. The company's brands include MasterCard, Maestro and Cirrus. Mastercard has paid a dividend every year since 2006.