Carnival hikes buy-back programme by 835m dollars

Cruise operator Carnival Corp has boosted its share buy-back programme by 835m dollars and declared a quarterly dividend of 25 cents per share.

Cruise operator Carnival Corp has boosted its share buy-back programme by 835m dollars and declared a quarterly dividend of 25 cents per share.

Since the start of the group's financial year (December 1st 2012), the company has repurchased two million shares of common stock valued at $78m, meaning it has so far bought back $835m in shares under its $1bn buy-back programme announced in September 2007.

However, before Carnival completes this current programme, it has now decided to raise the limit back up to $1bn, taking the total value of repurchases to $1.835bn.

"Our ongoing share repurchase program demonstrates our continued confidence in the earnings power of our global brands," said Micky Arison, Carnival's chairman and Chief Executive Officer.

"We remain committed to increasing shareholder returns through a combination of dividend distributions and opportunistic share repurchases."

Despite the bullish move, the stock failed to move into the blue on Thursday, trading 0.24% down at 2,514p by 15:00.

Meanwhile, the company has approved a record date for its latest quarterly dividend of $0.25 per share for February 22nd with a payment date of March 15th.

Recommended

How to be better at selling stocks
Investment strategy

How to be better at selling stocks

There is plenty of advice around about buying stocks, but not so much about when you should sell. John Stepek explains the two key things to know abou…
14 Jan 2022
Share tips of the week – 14 January
Share tips

Share tips of the week – 14 January

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
14 Jan 2022
Fintech: how to profit as technology transforms banking around the world
Share tips

Fintech: how to profit as technology transforms banking around the world

Financial technology – from apps to APIs to the cloud – is rapidly transforming financial services. This will spell doom for some incumbent firms, whi…
14 Jan 2022
Three solid assets to buy for a low interest-rate world
Share tips

Three solid assets to buy for a low interest-rate world

Professional investor Luke Hyde-Smith of the Waverton Real Assets Fund, highlights three alternative investments to diversify your portfolio.
14 Jan 2022

Most Popular

US inflation is at its highest since 1982. Why aren’t markets panicking?
Inflation

US inflation is at its highest since 1982. Why aren’t markets panicking?

US inflation is at 7% – the last time it was this high interest rates were at 14%. But instead of panicking, markets just shrugged. John Stepek explai…
13 Jan 2022
Five unexpected events that could shock the markets in 2022
Stockmarkets

Five unexpected events that could shock the markets in 2022

Forget Covid-19 – it’s the unexpected twists that will rattle markets in 2022, says Matthew Lynn. Here are five possibilities
31 Dec 2021
Interest rates might rise faster than expected – what does that mean for your money?
Global Economy

Interest rates might rise faster than expected – what does that mean for your money?

The idea that the US Federal Reserve could raise interest rates much earlier than anticipated has upset the markets. John Stepek explains why, and wha…
6 Jan 2022