Carnival Corp (CCL) to Issue Quarterly Dividend of $0.50 on December 14th
Carnival Corp (NYSE:CCL) declared a quarterly dividend on Wednesday, October 17th, RTT News reports. Stockholders of record on Friday, November 23rd will be given a dividend of 0.50 per share on Friday, December 14th. This represents a $2.00 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Wednesday, November 21st.
Carnival has raised its dividend payment by an average of 17.0% per year over the last three years and has increased its dividend every year for the last 3 years. Carnival has a dividend payout ratio of 46.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Carnival to earn $4.70 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 42.6%.
CCL opened at $59.05 on Tuesday. Carnival has a 52 week low of $53.47 and a 52 week high of $72.70. The firm has a market cap of $31.59 billion, a PE ratio of 15.46, a PEG ratio of 1.01 and a beta of 1.01. The company has a quick ratio of 0.17, a current ratio of 0.22 and a debt-to-equity ratio of 0.34.
Several research analysts have recently commented on CCL shares. ValuEngine lowered Carnival from a “hold” rating to a “sell” rating in a research report on Tuesday, October 16th. Stifel Nicolaus lowered their price target on Carnival from $78.00 to $76.00 and set a “buy” rating for the company in a research report on Friday, September 28th. Zacks Investment Research lowered Carnival from a “hold” rating to a “sell” rating in a research report on Monday, August 27th. Macquarie set a $55.00 price target on Carnival and gave the stock a “sell” rating in a research report on Friday, September 28th. Finally, Credit Suisse Group set a $75.00 target price on Carnival and gave the company a “buy” rating in a report on Thursday, September 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Carnival currently has a consensus rating of “Buy” and an average target price of $72.86.
In related news, General Counsel Arnaldo Perez sold 7,000 shares of Carnival stock in a transaction on Monday, October 1st. The stock was sold at an average price of $64.26, for a total value of $449,820.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 23.80% of the company’s stock.
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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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