MasterCard 2011 Annual Report Download - page 51

Download and view the complete annual report

Please find page 51 of the 2011 MasterCard annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 156

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156

Issuer Purchases of Equity Securities
In September 2010, the Company’s Board of Directors authorized a plan for the Company to repurchase up
to $1 billion of its Class A common stock in open market transactions. In April 2011, the Company’s Board of
Directors amended the existing share repurchase program authorizing the Company to repurchase an incremental
$1 billion of its Class A common stock in open market transactions. The incremental $1 billion share repurchase
authorization increases the Class A share repurchase program to an aggregate of $2 billion. During the fourth
quarter of 2011, MasterCard repurchased a total of approximately 0.1 million shares for $30 million at an
average price of $351.80 per share of Class A common stock. The Company’s repurchase activity during the
fourth quarter of 2011 consisted of open market share repurchases and is summarized in the following table:
Period
Total Number
of Shares
Purchased
Average Price
Paid per Share
(including
commission cost)
Total Number of
Shares Purchased as
Part of Publicly
Announced Plans or
Programs
Dollar Value of
Shares that may yet
be Purchased under
the Plans or
Programs1
October 1 – 31 .......... 10,900 $303.51 10,900 $878,836,433
November 1 – 30 ........ 28,600 $348.14 28,600 $868,879,502
December 1 – 31 ........ 44,800 $365.88 44,800 $852,488,274
Total ................. 84,300 $351.80 84,300
1Dollar value of shares that may yet be purchased under the Repurchase Program is as of the end of the
period.
As of January 27, 2012, the cumulative repurchases by the Company under the share repurchase program
totaled approximately 4.7 million shares of its Class A common stock for an aggregate cost of approximately
$1.3 billion at an average price of $264.65 per share of Class A common stock.
47