Mastercard (NYSE:MA) has increased its dividend by 14%, reflecting a pattern as of late of Mastercard making similar moves around this time of year.

This year, the board announced that its quarterly dividend would be $0.25 a share, which is up 13.6% from $0.22. The stock currently yields 0.6% and has gained 1% to $144.91.

There is still plenty of room for the company to further increase its dividend in future years, as its payout ratio last year was only at 20.1%.

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