Visa continues strong dividend growth in 2024

Payments technology company Visa Inc. (V) will hike its dividend by 13.5% to $0.59 quarterly per share in 2024. This is the fourth consecutive year with a double digit dividend hike and marks 16 consecutive years of increases for V.

On October 29, 2024, Visa declared a new quarterly dividend of $0.59 per share, up 13.5% from the previous quarterly dividend of $0.53 per share. The dividend yield for Visa is 0.8% at a stock price of $281.88.

So the Visa board of directors declared a quarterly cash dividend in the amount of $0.590 per share of class A common stock(determined in the case of all other outstanding common and preferred stock on an as-converted basis), payable on December 2, 2024, to all holders of recordas of November 12, 2024.

Visa has raised the dividend 16 years 
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The company now pays an estimated $4.6 billion in dividends annually to its shareholders. Visa has raised the dividend by double digits in each of the last four years with a 5 year CAGR of 14.5%. Our partner dividend hike did a comparison between Visa, Mastercard and lesser known smaller peer Discover Financial, one of the Dividend Heroes.

Visa Inc., is a payments technology company enabling electronic payments for consumers, businesses, banks and governments worldwide. The company's transaction processing network, VisaNet, enables authorization, clearing, and settlement of payment transactions and provides financial institution and merchant clients with a range of products, platforms, and value-added services. Visa is not a bank and does not issue cards, extend credit, or set rates and fees for account holders on Visa products. Its financial institution clients are responsible for managing account holder and merchant relationships. The company has paid a quarterly dividend every year since 2008. Visa was added to the Dow Jones Industrial Average Index in 2013.