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Visa Boosts Quarterly Dividend

Visa said it would pay out a dividend of 15 cents per share on Dec. 7 to common stockholders of record as of Nov. 19.

SAN FRANCISCO (

TheStreet

) --

Visa

(V) - Get Visa Inc. Class A Report

said Wednesday that the card-transaction processor would boost its quarterly dividend by 20%.

Common-stock investors will now get 15 cents per share, up from a previous rate of 12.5 cents per share. The new dividend is payable on Dec. 7 for shareholders of record as of Nov. 19.

"This is the second consecutive year that the board has authorized a meaningful increase in Visa's dividend, demonstrating confidence in our business and our commitment to returning excess cash to shareholders," said Chairman and CEO Joseph Saunders.

Visa shares were recently up 2.5% at $79.52.

-- Written by Lauren Tara LaCapra in New York

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