Shareholders of cruise operator Carnival are in for an additional payout of 50 US cents per share in December, in a move to return excess cash back to investors.
Carnival will pay a special dividend of $0.50 per share on December 28th, as well as the previously announced regular quarterly payout of $0.25 per share already scheduled for December 14th.
The stock, which was swinging between gains and losses on Friday morning, was lifted into positive territory by the news and was trading up 1.23% at 2,461p in afternoon trade.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
"This additional dividend is in keeping with our previously stated strategy of returning excess free cash flow to shareholders," said Chairman and Chief Executive Officer Micky Arison.
"Looking forward, we remain committed to increasing shareholder returns through a combination of dividend distributions and opportune share repurchases," he said.
Nvidia becomes the fourth biggest company in the world - should you invest?
Chipmaker Nvidia is riding the AI wave, and has overtaken Alphabet and Amazon in terms of market capitalisation. Have new investors missed the boat, or will the share price soar higher?
By Ruth Emery Published
Savings market heats up as providers boost rates - should you switch now for a better return?
In a surprising twist, more and more banks are now hiking their savings rates. Is it a good time to move your money and grab a better rate?
By Vaishali Varu Published