Summary
Visa Inc. announced on January 27, 2011, key actions by its Board of Directors that are significant for shareholders. The board declared a quarterly cash dividend of $0.15 per share, payable on March 1, 2011, to shareholders of record as of February 11, 2011. This move signals continued confidence in the company's financial health and a commitment to returning value to its investors. Furthermore, Visa approved the release of all remaining Class C shares from transfer restrictions, making them eligible for public sale starting February 7, 2011. Approximately 55 million shares are affected. Importantly, this release will not increase the total number of outstanding shares or dilute existing Class A shareholders, as any Class C shares sold in the market will automatically convert to Class A shares. This event is notable for potentially increasing market liquidity for Visa shares.
Key Highlights
- 1Declaration of a quarterly dividend of $0.15 per share for Class A, B, and C common stock.
- 2Dividend payment date set for March 1, 2011, with a record date of February 11, 2011.
- 3Approval for the release of all remaining Class C shares from transfer restrictions.
- 4Approximately 55 million Class C shares will become eligible for public sale starting February 7, 2011.
- 5Release of Class C shares will not increase the total number of outstanding shares.
- 6No dilutive effect on the Class A share count is expected.
- 7Class C shares sold to the public will automatically convert to Class A shares.