Business

Royal Caribbean Cruises declares dividend increase

Miami-based Royal Caribbean Cruises said this week that it is boosting its quarterly divided to 30 cents per common share. That’s a 20 percent increase over the previous dividend of 25 cents a share.

The cruise company’s board of directors approved the increase at its meeting Tuesday.

The dividend will be payable Oct. 2 to shareholders of record at the close of business on Sept. 22.

“Dividends continue to be an important component of total shareholder return,” Royal Caribbean Cruises chairman and CEO Richard D. Fain said in a statement. “This dividend increase was made possible by the efforts of the overall organization to continue to improve our financial position. It demonstrates our commitment to increasing shareholder value and our confidence in our ability to continue to grow returns in the future.”

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