MIAMI, April 11, 2018 /PRNewswire/ -- Carnival
Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) has
announced an 11 percent increase in its quarterly dividend to
$0.50 per share from the previous
dividend amount of $0.45 per share.
Additionally, the company's board approved the re-authorization of
up to $1 billion in share repurchases
covering both Carnival Corporation common stock and Carnival plc
ordinary shares.
Commented David Bernstein, chief
financial officer for Carnival Corporation & plc, "With
$6 billion of cash from operations
expected in 2018, we remain committed to distributing cash to
shareholders as evidenced by another 11 percent increase in our
dividend, combined with another $1
billion share repurchase authorization, reflecting continued
confidence in our outlook. In just three years, we have doubled our
quarterly dividend and invested $3.5
billion in Carnival stock."
The board approved a record date for the quarterly dividend of
May 25, 2018, with a payment date of
June 15, 2018. Holders of
Carnival Corporation common stock and Carnival plc ADSs will
receive the dividend payable in U.S. dollars. The dividend
for Carnival plc ordinary shares will be payable in U.S. dollars or
sterling. In the absence of instructions or elections to the
contrary, holders of Carnival plc ordinary shares will
automatically receive the dividend in sterling.
Dividends payable in sterling will be converted from U.S.
dollars at the exchange rate quoted by Bloomberg (BFIX) at 12
noon BST on June 1, 2018.
The share repurchase authorization covers both Carnival
Corporation common stock traded on the New York Stock Exchange and
Carnival plc ordinary shares traded on the London Stock Exchange.
Repurchases will take place in the open market or privately
negotiated transactions in accordance with applicable laws, rules
and regulations. The stock repurchase is subject to prevailing
market conditions and other considerations.
Carnival Corporation & plc is the world's largest
leisure travel company and among the most profitable and
financially strong in the cruise and vacation industries, with a
portfolio of 10 dynamic brands that include nine of the world's
leading cruise lines. With operations in North
America, Australia, Europe and Asia, its portfolio features Carnival Cruise
Line, Princess Cruises, Holland America Line, Seabourn,
P&O Cruises (Australia), Costa Cruises, AIDA Cruises,
P&O Cruises (UK) and Cunard, as well as Fathom, the
corporation's immersion and enrichment experience brand.
Together, the corporation's cruise lines operate 102 ships with
234,000 lower berths visiting over 700 ports around the world, with
19 new ships scheduled to be delivered between 2018 and
2023. Carnival Corporation & plc also operates
Holland America Princess Alaska Tours, the leading tour company in
Alaska and the Canadian Yukon. Traded on both the New
York and London Stock Exchanges, Carnival Corporation
& plc is the only group in the world to be included in
both the S&P 500 and the FTSE 100 indices.
In 2017, Fast Company recognized Carnival Corporation as being
among the "Top 10 Most Innovative Companies" in both the design and
travel categories. Fast Company specifically recognized Carnival
Corporation for its work in developing Ocean Medallion™, a
high-tech wearable device that enables the world's first
interactive guest experience platform capable of transforming
vacation travel into a highly personalized and elevated level of
customized service.
Additional information can be found on www.carnival.com,
www.princess.com, www.hollandamerica.com, www.seabourn.com,
www.pocruises.com.au, www.costacruise.com, www.aida.de,
www.pocruises.com, www.cunard.com, and www.fathom.org.
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SOURCE Carnival Corporation & plc