MasterCard Plans No Fee Increases in 2007
By Justin McHenry
What came as bad news to Wall Street investors is good news for MasterCard credit card holders. While MasterCard announced better-than-expected earnings for the fourth quarter of 2006 due to an increase in fees on some international transactions, it disappointed Wall Street by saying margins would not increase in 2007 as no increase in transaction fees is currently planned.
After earnings were announced, MasterCard’s stock price hit its all-time high since the company’s May, 2006 public offering, then plummeted after the warning on 2007 margins. MasterCard had a fourth-quarter profit of $41 million, or 30 cents per share. Revenue rose to $839 million, up from $716 million a year ago.
Mastercard also announced it would raise its quarterly dividend to 15 cents per share, up from 9 cents per share.
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