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NEW YORK, Feb 9 (Reuters) - MasterCard Inc. (MA.N: Quote, Profile<"" >

 
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MasterCard quarterly profit beats Street view

Fri Feb 9, 2007 9:41AM EST

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NEW YORK, Feb 9 (Reuters) - MasterCard Inc. (MA.N: Quote, Profile, Research), the credit card company that went public in May, reported a better-than-expected fourth-quarter profit on Friday, reversing a year-ago loss and sending its shares to a record high.

MasterCard, which processes credit card payments for merchants, also said it was raising its quarterly dividend by 66.7 percent to 15 cents a share.

Fourth-quarter profit totaled $40.9 million, or 30 cents a share, compared with a year-earlier loss of $52.9 million, or 39 cents a share.

Excluding the impact of litigation settlements, profit was 31 cents a share. On that basis, analysts polled by Reuters Estimates had forecast, on average, 15 cents a share.

MasterCard shares were up 4.1 percent at $119.50 in premarket trade, an all-time high for the stock. The company went public last year at $39 a share.   Continued...

 

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