Royal Caribbean Group (RCL) announced on Wednesday that its Board of Directors has declared a quarterly dividend of $0.55 per share, payable on Jan. 13, 2025, to shareholders of record as of Dec. 27, 2024.
This marks a 38% increase from its previous payout of $0.40 per share in September 2024.
The dividend hike shows Royal Caribbean’s strong financial recovery from the challenges of the COVID-19 pandemic, which stopped the cruise industry.
Before the shutdown, its dividend was $0.78 per share.
Carnival Corporation (CCL) has not resumed its dividend, which was $0.50 and halted in early 2020.
Read More: Timeline of the Cruise Industry Shutdown
During the shutdown, the cruise companies grappled with high-interest debt and operational costs associated with maintaining its fleet and facilities.
Despite these obstacles, Royal Caribbean Group has returned to profitability and resumed dividends earlier this year, becoming one of the few cruise operators to do so post-pandemic.
Royal Caribbean (RCL) Dividend History
| Period | Dividend | Notes |
|---|---|---|
| March 2020 | $0.78 per share | Last pre-pandemic dividend |
| April 2020–June 2024 | No dividend | Suspension due to COVID-19 pandemic |
| July 2024 | $0.40 per share | Dividend reinstated post-pandemic |
| December 2024 (announced) | $0.55 per share | Current dividend, reflecting a 38% increase from July |
For the third quarter of 2024, the company reported a net income of $1.1 billion, or $4.21 per share, up from $1 billion, or $3.65, in the same period last year.
The adjusted profit of $5.20 per share marked a 35% year-over-year increase. Royal Caribbean sailed at 111% of capacity during the quarter, reflecting heightened consumer demand.
“This increase reflects the company’s continuing efforts to enhance shareholder returns,” Royal Caribbean said in a statement.
After reinstating its dividend at $0.40 per share in July, Royal Caribbean’s latest move shows its recovery momentum and the cruise industry’s resilience.
The company’s shares have steadily climbed in recent months, buoyed by record bookings and improved margins.
Guests who own 100 shares or more of Royal Caribbean stock can receive cruise line shareholder perks as onboard credit, which vary by sailing length.
Cruise lines that fall under the Royal Caribbean Group are Royal Caribbean International, Celebrity Cruises, and Silversea Cruises.
| Cruise Length | Onboard Credit Amount | Redemption Requirements |
|---|---|---|
| 5 Nights or Fewer | $50 | Submit proof of ownership at least three weeks before sailing: • Most recent brokerage statement • Booking details |
| 6–13 Nights | $100 | Same as above |
| 14 Nights or More | $250 | Same as above |
Read More: How to Use Onboard Credit
