Visa Rings Up Big Dividend Increase

Visa [[V]] announced today that the company is increasing their quarterly dividend by 20% to $.15 per share.


Following the dividend increase, Visa shares will yield 0.8% based on yesterday’s closing price.


“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 Joseph Saunders, Chairman and Chief Executive Officer of Visa.


Visa shares have fallen 8% since the beginning of the year and have underperformed the S&P 500 index in 2010.


The dividend will be payable on December 7, 2010 to shareholders of record as of November 19, 2010.

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