Visa's $405 Million Escrow Deposit Fuels EPS Growth

Visa Inc. (NYSE:V) has made a $405 million deposit into its U.S. litigation escrow account, as authorized on September 18, 2026. This move is part of the company's U.S. retrospective responsibility plan, which insulates Class A common shareholders from legacy U.S. litigation liabilities by shifting the financial burden to Class B shareholders.

The deposit reduces the conversion rates of Class B-1, B-2, and B-3 shares into Class A stock, effectively diluting Class B equity holders. Specifically, Class B-1 fell from 1.5445 to 1.5400, Class B-2 dropped from 1.5014 to 1.4924, and Class B-3 decreased from 1.4953 to 1.4773.

This adjustment contracts the overall fully diluted Class A share count, resulting in an EPS accretive impact equivalent to repurchasing Class A shares in the open market.