Visa said Wednesday is increasing its quarterly dividend by 47 percent.
The payment processing network operator said Wednesday it will pay shareholders of its Class A common stock a dividend of 22 cents, up from 15 cents. Visa has increased its dividend for three straight years now.
The dividend is payable Dec. 6 to shareholders of record as of Nov. 18. Visa, based in San Francisco, says it is also increasing dividends for its Class B and Class C shareholders.
Class A shares closed Tuesday trading at $93.91, up 33 percent for the year.
"Visa has a long-standing commitment to deliver value to its shareholders," said Joseph Saunders, Chairman and Chief Executive Officer of Visa. "By authorizing a significant dividend increase for the third consecutive year, the board of directors is delivering on that commitment and demonstrating their ongoing confidence in the strength of the business."
Visa shares rose 0.5 percent in pre-market trading Wednesday.