Carnival Corporation & plc Re-establishes $1 Billion Share Repurchase Program;
Declares Quarterly Dividend
MIAMI, Jan. 17, 2013
MIAMI, Jan. 17, 2013 /PRNewswire/ -- Carnival Corporation & plc (NYSE/LSE:
CCL; NYSE: CUK) announced that it has renewed its authorization for the
repurchase of up to $1 billion of its common stock and declared a quarterly
dividend of $0.25 per share.
The company has repurchased two million shares of Carnival
Corporationcommonstock valued at $78 million since the start of fiscal 2013,
bringing the total amount purchased to date under the September 2007 $1
billion authorization to $835 million. Yesterday, the company's board of
directors increased the remaining $165 million repurchase authorization to $1
"Our ongoing share repurchase program demonstrates our continued confidence in
the earnings power of our global brands," said Micky Arison, Carnival
Corporation & plc chairman and CEO. "We remain committed to increasing
shareholder returns through a combination of dividend distributions and
opportunistic share repurchases," he added.
The share repurchase authorization covers both Carnival Corporation
commonstock traded on the New York Stock Exchange and Carnival plc ordinary
shares traded on the London Stock Exchange. Repurchases will take place in the
open market or privately negotiated transactions in accordance with applicable
laws, rules and regulations. The stock repurchase is subject to prevailing
market conditions and other considerations.
The board approved a record date for the quarterly dividend of February 22,
2013 with a payment date of March 15, 2013. Holders of Carnival Corporation
common stock and Carnival plc ADSs will receive the dividend payable in U.S.
dollars. The dividend for Carnival plc ordinary shares will be payable in
U.S. dollars or sterling. In the absence of instructions or elections to the
contrary, holders of Carnival plc ordinary shares will automatically receive
the dividend in sterling.
Dividends payable in sterling will be converted from U.S. dollars at the
exchange rate quoted by the Bank of England in London at 12 noon on March 1,
2013. Holders of Carnival plc ordinary shares wishing to receive their
dividend in U.S. dollars or participate in the Carnival plc Dividend
Reinvestment Plan must elect to do so by February 22, 2013.
Carnival Corporation & plc is the largest cruise company in the world, with a
portfolio of cruise brands in North America, Europe, Australia and Asia,
comprised of Carnival Cruise Lines, Holland America Line, Princess Cruises,
Seabourn, AIDA Cruises, Costa Cruises, Cunard, Ibero Cruises, P&O Cruises
(Australia) and P&O Cruises (UK).
Together, these brands operate 100 ships totaling 203,000 lower berths with
nine new ships scheduled to be delivered between March 2013 and March
2016.Carnival Corporation& plc also operates Holland America Princess Alaska
Tours, the leading tour company in Alaska and the Canadian Yukon. Traded on
both the New York and London Stock Exchanges, Carnival Corporation & plc is
the only group in the world to be included in both the S&P 500 and the FTSE
SOURCE Carnival Corporation
Contact: Jennifer De La Cruz, +1-305-599-2600, ext. 16000
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