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On Dec. 17, 2024, Mastercard (MA) increased its quarterly dividend by 15.15%, from 66 cents to 76 cents per share. The dividend will be paid on Feb. 7, 2025 to shareholders. Additionally, the ex-dividend date is Jan. 9, 2025.

The stock's contribution to my portfolio's projected annual dividend income will increase by $20 to $152. I own 50 shares of Mastercard stock at an average cost basis of $329.29 per share. Following this increase, my yield on cost is 0.92% (the stock's forward yield is 0.58% at $526.86 per share).

Since opening my position in August 2019, the stock has generated a total return of 63%, including $465.70 in dividend income. That's a solid annualized rate of return of 11.9%.

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