Carnival Corporation has announced an 11 percent increase in its quarterly dividend to $0.50 per share from the previous dividend amount of $0.45 per share, the company said. 

Additionally, the company’s board approved the re-authorization of up to $1 billion in share repurchases covering both Carnival Corporation common stock and Carnival plc ordinary shares.

Commented David Bernstein, chief financial officer for Carnival Corporation & plc: “With $6 billion of cash from operations expected in 2018, we remain committed to distributing cash to shareholders as evidenced by another 11 percent increase in our dividend, combined with another $1 billion share repurchase authorization, reflecting continued confidence in our outlook. In just three years, we have doubled our quarterly dividend and invested $3.5 billion in Carnival stock.”

The board approved a record date for the quarterly dividend of May 25, 2018, with a payment date of June 15, 2018.