Carnival Corp (CCL) to Issue Quarterly Dividend of $0.50 on September 14th
Carnival Corp (NYSE:CCL) announced a quarterly dividend on Thursday, July 19th, RTT News reports. Shareholders of record on Friday, August 24th will be paid a dividend of 0.50 per share on Friday, September 14th. This represents a $2.00 annualized dividend and a yield of 3.30%. The ex-dividend date is Thursday, August 23rd.
Carnival has increased its dividend payment by an average of 17.0% annually over the last three years and has increased its dividend every year for the last 3 years. Carnival has a payout ratio of 47.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Carnival to earn $4.85 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 41.2%.
Shares of NYSE:CCL opened at $60.58 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.20 and a current ratio of 0.24. Carnival has a 12-month low of $56.45 and a 12-month high of $72.70. The firm has a market cap of $31.62 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 0.94 and a beta of 0.86.
Several analysts have issued reports on CCL shares. Buckingham Research cut their target price on shares of Carnival from $84.00 to $83.00 and set a “buy” rating on the stock in a research note on Friday, May 25th. Credit Suisse Group set a $82.00 price target on shares of Carnival and gave the stock a “buy” rating in a research note on Thursday, April 26th. Zacks Investment Research downgraded shares of Carnival from a “buy” rating to a “hold” rating in a research note on Friday, May 25th. Tigress Financial reaffirmed a “buy” rating on shares of Carnival in a research note on Friday, June 8th. Finally, ValuEngine downgraded shares of Carnival from a “hold” rating to a “sell” rating in a research note on Wednesday, June 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $74.44.
In other news, CEO Arnold W. Donald sold 5,000 shares of the company’s stock in a transaction on Friday, June 1st. The shares were sold at an average price of $62.91, for a total value of $314,550.00. Following the transaction, the chief executive officer now directly owns 132,648 shares of the company’s stock, valued at $8,344,885.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 23.80% of the company’s stock.
Carnival Company Profile
Carnival Corporation operates as a leisure travel and cruise company. It offers cruises under the Carnival Cruise Line, Holland America Line, Princess Cruises, and Seabourn brands in North America; and AIDA, Costa, P&O Cruises (Australia), Cunard, and P&O Cruises (UK) brands in Europe, Australia, and Asia.
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