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Credit Card Applications » News » Other » Annual Meeting Results Announced By MasterCard

Annual Meeting Results Announced By MasterCard

October 07, 2010
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At the Annual Stockholders Meeting MasterCard announced the results of the Regular Quarterly Dividend. The announcement was made at the worldwide headquarters in Purchase, NY.

The stockholders have approved of the company`s amended and restated Certificate of Incorporation. The Board of Directors would be declassified in phases. Changes related to Director Vacancy and removal procedures would be in effect. Amending the Company`s Certificate of Incorporation will no longer require a supermajority voting requirement. Composition of the Board of Directors and the ownership of the Company`s stock would be revised so as to delete the some of the outdated provisions.

The directors who have been re-elected, with their term expiring in 2013 are as follows:

Nancy J. Karch, Director Emeritus of McKinsey & Company

Jose Octavio Reyes Lagunes, President, Latin America Group at the Coco-Cola Company

Edward Suning Tian, Founder and Chairman of the China Broadband Capital Partners, L.P.

Silvio Barzi, Founder and Chairman of UniCredit Family Financing.

There has been a re-approval of the Senior Executive Annual Incentive Compensation Plan and PricewaterhouseCoopers LLP has been appointed by the company as the independent registered public accounting firm for the year 2010.

MasterCard President and Chief Executive Officer, in his address to the stockholders, attributed the company success to the strong fundamentals and business practices as well as the strong fiscal discipline. MasterCard`s deliverance of strong results in 2009 and the first half of 2010 would pave the way for continued growth with regard to the electronic payments around the globe, he added.

A cash dividend of $0.15 per share, payable on November 10, 2010, to the holders of records of the class A common stock and class B common stock as of October 12, 2010, has been announced by the Board of Directors.

MasterCard worldwide offers a critical link between business modules worldwide. Its worldwide network includes, MasterCard(R), Cirrus(R), as well as Maestro(R). MasterCard smartdata so far has served 150 issuers, while MasterCard serves about 200 countries worldwide.

Forward looking statements made are not made on the basis of historical facts they are subject to the safe harbor provisions of the Private Securities Litigation Reform Act, 1995. Since the company comes under the purview of the U.S. Federal Securities laws, the company has no intention of making revisions with regard to the forward-looking information which include, statements relating to MasterCard`s future growth opportunities, as well as growth with regard to electronic payments around the globe.

MasterCard`s overall results may vary from time to time from the expected results which would include the Company`s filings with the Securities and Exchange Commission (SEC) with regard to the Annual, Quarterly as well as the Current Reports filed with SEC during 2010.

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