UPDATE 1-MasterCard doubles quarterly dividend

Tue Feb 7, 2012 12:24pm EST

Feb 7 (Reuters) - MasterCard Inc doubled its quarterly dividend to 30 cents a share, a week after the world's second-largest credit and debit card processing network posted strong quarterly results.

The dividend raise comes five years after the company's last such move in 2007 to 15 cents from 9 cents.

The cash dividend will be paid on May 9 to holders of record of Class A and Class B common stock as of April 9, MasterCard said in a statement.

On Feb. 2, MasterCard reported earnings ahead of analysts' expectations, benefitting from consumers around the world using their cards more.

MasterCard's shares were up 1 percent at $393.76 on Tuesday afternoon on the New York Stock Exchange. They touched a lifetime high of $394.48 earlier in the session.

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