Carnival More than Doubles Quarterly Dividend

Friday, January 21, 2011

Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) announced an increase in its regular quarterly dividend to $0.25 per share from $0.10 per share.

"Considering the current economic climate, our ability to more than double our dividend just a year after its reinstatement is a remarkable testament to the resilience of our global cruise brands and our confidence in the future of our business," said Micky Arison, Carnival Corporation & plc chairman and CEO. "Given our projected increase in cash from operations, expected to exceed $4 billion in 2011, combined with lower capital investment commitments due to the slower pace of our newbuild program, the company will begin generating significant free cash flow in 2011 and beyond," he added.

The company's boards of directors approved a record date for the quarterly dividend of February 18, 2011, and a payment date of March 11, 2011. 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 the Bank of England in London at 12 noon on March 1, 2011.  Holders of Carnival plc ordinary shares wishing to receive their dividend in U.S. dollars or participate in the Carnival plc Dividend Reinvestment Plan must elect to do so by February 18, 2011.

Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

SC Ports’ Earnings, Volumes Surpass Plans

July cargo volumes deliver strong start to new fiscal year SC Ports Authority reported 2014 fiscal year-end operating earnings of $14.3 million, 20.7 percent over the organization's financial plan.

GoM Sale Yields $110m in High Bids

As part of President Obama’s all-of-the-above energy strategy to continue to expand safe and responsible domestic energy production, today’s Western Gulf of Mexico Lease Sale 238 attracted $109,

Traders Store Crude for Profit as Contango Takes Hold

Oil traders have begun fixing tankers to take North Sea, West African and Arab crudes to South Africa for storage, hoping for a repeat of the multimillion dollar bonanza they reaped in 2008-2009.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Offshore Oil Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1111 sec (9 req/sec)