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Carnival resumes dividend payments
Monday, 22 Jan, 2010
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Cruise giant Carnival Corporation is to resume its quarterly dividend a year after it was suspended.
The board declared a dividend of $0.10 per share and approved a payment date of March 12.
Chairman and CEO Mickey Arison said: "Resuming the quarterly dividend demonstrates our confidence in the earnings power of our global cruise brands despite the current economic environment.
“In addition, there has been a notable improvement in our access to the capital markets since the suspension was announced at the height of the financial crisis. Initiating the dividend at this level allows us to begin to return cash to shareholders at the peak of our capital expenditure program in 2010 and still maintain our strong balance sheet and solid investment grade credit rating.
“We are committed to returning cash to shareholders and expect to grow the dividend as our capital investment program slows beyond 2010 leading to significant free cash flow."
by Phil Davies
Phil Davies
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