Carnival (CCL) Dividend
Carnival Corporation Ltd. · Consumer Cyclical · Travel Services · quarterly payer
As of Nov 5, 2026, Carnival (CCL) pays a quarterly dividend, or $0.45 a year, a 1.44% yield at its $29.54 share price. The next ex-dividend date is Nov 6, 2026, paid Nov 27, 2026. It has a dividend safety grade of C.
Forward Yield
1.44%
Annual Dividend
$0.45
Payout Ratio
20%
5-Yr Growth
—
Ex-Date
Nov 6, 2026
Frequency
Quarterly
Key facts about CCL's dividend
Data as of · Source: SmarterDividends data
- As of Nov 5, 2026, Carnival Corporation Ltd. (CCL) has a forward dividend yield of 1.44%, based on an annual dividend of $0.45 per share and a share price of $29.54.
- As of Nov 5, 2026, CCL's dividend safety grade from SmarterDividends is C (58 out of 100), which rates the dividend as borderline.
- CCL last cut its regular dividend in 2010.
- CCL's next ex-dividend date is Nov 6, 2026, with payment on Nov 27, 2026. Shares must be owned before that date to receive the dividend.
- As of Nov 5, 2026, CCL pays out 20% of its trailing 12-month earnings as dividends (its payout ratio).
- As of Nov 5, 2026, SmarterDividends' blended fair-value estimate for CCL is $59.30 per share, 101% above the $29.54 share price, so CCL screens as undervalued.
- Carnival Corporation Ltd. (CCL) pays its dividend quarterly, 4 times a year.
- Carnival Corporation Ltd. (CCL) has raised its regular dividend 22 times and cut it 1 time across the 130 payments on record since 1988. Its most recent change was a 11.1% increase to $0.500 per share, going ex-dividend on May 24, 2018. The last cut went ex-dividend on Feb 17, 2010.
Cite this page
SmarterDividends, "CCL Dividend: Yield, Safety Grade & Next Ex-Date," updated Nov 5, 2026, https://smarterdividends.com/stocks/CCL
Is CCL a good dividend stock?
Yes, with caveatsCarnival Corporation Ltd. (CCL) pays a quarterly dividend yielding 1.44% ($0.45/yr), with 0 years of growth and a dividend-safety grade of C. It's a solid income payer, but check the caveats below before buying.
Advantages
- Comfortable payout ratio (20%)
- 64% total price return over 5 years
Risks
- Cut its dividend in 2010
Key Data
- Dividend Yield
- 1.44%
- Payout Ratio
- 20%
- Annual Dividend
- $0.45
- 5-Yr Avg Growth
- —
- Ex-Dividend Date
- Nov 6, 2026
- Years of Growth
- 0
- Frequency
- quarterly
- Beta
- 2.46
- Market Cap
- $39.7B
- P/E Ratio
- 13.0
- 5-Yr Total Return
- 64%
- 52-Week Range
- $21.45 – $34.03
- Dividend Safety
- C · 58/100
- Ever Cut?
- Yes (2010)
CCL dividend raises and cuts
Carnival Corporation Ltd. (CCL) has raised its regular dividend 22 times and cut it 1 time across the 130 payments on record since 1988. Its most recent change was a 11.1% increase to $0.500 per share, going ex-dividend on May 24, 2018. The last cut went ex-dividend on Feb 17, 2010.
| Ex-date | Change | Old → new | Move |
|---|---|---|---|
| May 24, 2018 | Raise | $0.450 → $0.500 | +11.1% |
| Nov 22, 2017 | Raise | $0.400 → $0.450 | +12.5% |
| May 24, 2017 | Raise | $0.350 → $0.400 | +14.3% |
| May 25, 2016 | Raise | $0.300 → $0.350 | +16.7% |
| Aug 19, 2015 | Raise | $0.250 → $0.300 | +20.0% |
| Feb 16, 2011 | Raise | $0.100 → $0.250 | +150.0% |
| Feb 17, 2010 | Cut | $0.400 → $0.100 | −75.0% |
| Nov 20, 2007 | Raise | $0.350 → $0.400 | +14.3% |
| May 16, 2007 | Raise | $0.275 → $0.350 | +27.3% |
| Nov 15, 2006 | Raise | $0.250 → $0.275 | +10.0% |
| Nov 16, 2005 | Raise | $0.200 → $0.250 | +25.0% |
| May 18, 2005 | Raise | $0.150 → $0.200 | +33.3% |
Show all 23 changes since 1990
| Ex-date | Change | Old → new | Move |
|---|---|---|---|
| Nov 17, 2004 | Raise | $0.125 → $0.150 | +20.0% |
| Nov 19, 2003 | Raise | $0.105 → $0.125 | +19.0% |
| Nov 26, 1999 | Raise | $0.0900 → $0.105 | +16.7% |
| Nov 25, 1998 | Raise | $0.0750 → $0.0900 | +20.0% |
| Nov 25, 1997 | Raise | $0.0550 → $0.0750 | +36.4% |
| Nov 25, 1996 | Raise | $0.0450 → $0.0550 | +22.2% |
| Nov 28, 1995 | Raise | $0.0375 → $0.0450 | +20.0% |
| Nov 23, 1994 | Raise | $0.0350 → $0.0375 | +7.1% |
| Feb 24, 1992 | Raise | $0.0325 → $0.0350 | +7.7% |
| Nov 22, 1991 | Raise | $0.0300 → $0.0325 | +8.3% |
| Feb 22, 1990 | Raise | $0.0250 → $0.0300 | +20.0% |
Frequently Asked Questions
Is CCL a good dividend stock?
Yes, with caveats. Carnival Corporation Ltd. (CCL) pays a quarterly dividend yielding 1.44% ($0.45/yr), with 0 years of growth and a dividend-safety grade of C. It's a solid income payer, but check the caveats below before buying.
Is CCL undervalued?
Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, CCL's fair value is about $59.30 versus a $29.54 share price — so it looks undervalued (+101% vs. fair value).
Is CCL's dividend safe?
CCL has a dividend-safety grade of C (58/100), based on its payout coverage, free-cash-flow, 0-year growth streak, a dividend cut in 2010, debt and yield-versus-history.
What is CCL's fair value?
Our blended fair-value estimate for CCL is about $59.30 per share, roughly 101% above the current $29.54 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.
Is CCL a buy, hold, or sell?
We don't issue formal ratings, but on the data CCL screens as "yes, with caveats" and undervalued. Carnival Corporation Ltd. (CCL) pays a quarterly dividend yielding 1.44% ($0.45/yr), with 0 years of growth and a dividend-safety grade of C. It's a solid income payer, but check the caveats below before buying. This is research for your own analysis, not investment advice.
Will CCL cut its dividend?
CCL earns a dividend-safety grade of C (58/100), and has cut its dividend before (last in 2010). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.
Does CCL pay a dividend?
Yes. Carnival Corporation Ltd. pays a quarterly dividend of about $0.45 per share annually, a forward yield of roughly 1.44%.
How much dividend does 100 shares of CCL pay?
At $0.45 per share a year, 100 shares of CCL pay $45.00 a year in dividends before tax, about $11.25 each quarter. Buying them costs about $2,954 at the Nov 5, 2026 price.
What is CCL's dividend yield?
As of Nov 5, 2026, CCL's forward dividend yield is 1.44%, based on a $0.45 annual dividend and a $29.54 share price.
What is CCL's dividend per share?
As of Nov 5, 2026, CCL pays $0.45 per share per year, distributed on a quarterly basis.
What is CCL's dividend payout ratio?
As of Nov 5, 2026, CCL's payout ratio is 20% of trailing 12-month earnings — a comfortable level that leaves room to keep raising the dividend.
How many years has CCL grown its dividend?
CCL does not currently have a long dividend-growth streak on record.
When is the next CCL ex-dividend date?
As of Nov 5, 2026, the next ex-dividend date on record for CCL is Nov 6, 2026.
CCL Price — Last 12 Months
Daily close
Price Return
1 Year
+12%
3 Years
+91%
5 Years
+64%
52-Week Range
$21.45 – $34.03
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is CCL worth?
Undervaluedlow confidenceOur blended fair-value estimate for Carnival Corporation Ltd. is $59.30 per share, versus a market price of $29.54. That implies 101% of upside — a margin of safety of about 50%.
Fair Value
$59.30
Current Price
$29.54
Upside
+101%
Margin of Safety
50%
How we get there
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about 27.2% annual free-cash-flow growth. We model 12.0% — so the price already assumes faster growth than we think is likely.
Assumptions: 12.0% discount rate (CAPM), 12.0% growth for five years fading to 2.5% over the next five, $2.27 EPS, $0.45 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
CCL Dividend Safety Score
Borderline
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
Full CCL dividend history →| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Aug 7, 2026 | Aug 28, 2026 | $0.1500 | regular |
| May 18, 2026 | May 29, 2026 | $0.1500 | regular |
| Feb 13, 2026 | Feb 27, 2026 | $0.1500 | regular |
| Feb 20, 2020 | Mar 13, 2020 | $0.5000 | regular |
| Nov 21, 2019 | Dec 13, 2019 | $0.5000 | regular |
| Aug 22, 2019 | Sep 13, 2019 | $0.5000 | regular |
| May 23, 2019 | Jun 14, 2019 | $0.5000 | regular |
| Feb 21, 2019 | Mar 15, 2019 | $0.5000 | regular |
| Nov 21, 2018 | Dec 14, 2018 | $0.5000 | regular |
| Aug 23, 2018 | Sep 14, 2018 | $0.5000 | regular |
| May 24, 2018 | Jun 15, 2018 | $0.5000 | regular |
| Feb 22, 2018 | Mar 16, 2018 | $0.4500 | regular |
| Nov 22, 2017 | Dec 15, 2017 | $0.4500 | regular |
| Aug 23, 2017 | Sep 15, 2017 | $0.4000 | regular |
Income Calculator
At $0.45 / yr per share
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