Royal Caribbean Cruises (RCL) Dividend
Royal Caribbean Cruises Ltd. · Consumer Cyclical · Travel Services · quarterly payer
As of Nov 5, 2026, Royal Caribbean Cruises (RCL) pays a quarterly dividend of $1.50 per share, or $6.00 a year, a 1.80% yield at its $320.85 share price. It pays every quarter, usually in January, April, July and October. It has a dividend safety grade of C.
Forward Yield
1.80%
Annual Dividend
$6.00
Payout Ratio
33%
5-Yr Growth
2.3%
Ex-Date
Sep 17, 2026
Frequency
Quarterly
Key facts about RCL's dividend
Data as of · Source: SmarterDividends data
- As of Nov 5, 2026, Royal Caribbean Cruises Ltd. (RCL) has a forward dividend yield of 1.80%, based on an annual dividend of $6.00 per share and a share price of $320.85.
- As of Nov 5, 2026, RCL's dividend safety grade from SmarterDividends is C (59 out of 100), which rates the dividend as borderline.
- RCL last cut its regular dividend in 2012.
- RCL's most recent ex-dividend date was Sep 17, 2026, for a dividend of $1.50 per share.
- As of Nov 5, 2026, RCL pays out 33% of its trailing 12-month earnings as dividends (its payout ratio).
- RCL's dividend has grown at an average rate of 2.3% a year over the past five years.
- As of Nov 5, 2026, RCL's 1.80% yield is 97% above its five-year average yield of 0.91%.
- As of Nov 5, 2026, SmarterDividends' blended fair-value estimate for RCL is $253.01 per share, 21% below the $320.85 share price, so RCL screens as overvalued.
- Royal Caribbean Cruises Ltd. (RCL) pays its dividend quarterly, 4 times a year.
- Royal Caribbean Cruises Ltd. (RCL) has raised its regular dividend 22 times and cut it 1 time across the 106 payments on record since 1993. Its most recent change was a 50.0% increase to $1.50 per share, going ex-dividend on Mar 6, 2026. The last cut went ex-dividend on May 28, 1999.
Cite this page
SmarterDividends, "RCL Dividend: Yield, Safety Grade & Next Ex-Date," updated Nov 5, 2026, https://smarterdividends.com/stocks/RCL
Is RCL a good dividend stock?
Yes, with caveatsRoyal Caribbean Cruises Ltd. (RCL) pays a quarterly dividend yielding 1.80% ($6.00/yr), with 1 year 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 (33%)
- 340% total price return over 5 years
Risks
- Cut its dividend in 2012
Key Data
- Dividend Yield
- 1.80%
- Payout Ratio
- 33%
- Annual Dividend
- $6.00
- 5-Yr Avg Growth
- 2.3%
- Ex-Dividend Date
- Sep 17, 2026
- Years of Growth
- 1
- Frequency
- quarterly
- Beta
- 1.86
- Market Cap
- $85.8B
- P/E Ratio
- 19.0
- 5-Yr Total Return
- 340%
- 52-Week Range
- $222.22 – $356.39
- Dividend Safety
- C · 59/100
- Ever Cut?
- Yes (2012)
RCL dividend raises and cuts
Royal Caribbean Cruises Ltd. (RCL) has raised its regular dividend 22 times and cut it 1 time across the 106 payments on record since 1993. Its most recent change was a 50.0% increase to $1.50 per share, going ex-dividend on Mar 6, 2026. The last cut went ex-dividend on May 28, 1999.
| Ex-date | Change | Old → new | Move |
|---|---|---|---|
| Mar 6, 2026 | Raise | $1.00 → $1.50 | +50.0% |
| Sep 25, 2025 | Raise | $0.750 → $1.00 | +33.3% |
| Mar 7, 2025 | Raise | $0.550 → $0.750 | +36.4% |
| Dec 27, 2024 | Raise | $0.400 → $0.550 | +37.5% |
| Sep 19, 2019 | Raise | $0.700 → $0.780 | +11.4% |
| Sep 20, 2018 | Raise | $0.600 → $0.700 | +16.7% |
| Sep 21, 2017 | Raise | $0.480 → $0.600 | +25.0% |
| Sep 27, 2016 | Raise | $0.375 → $0.480 | +28.0% |
| Sep 16, 2015 | Raise | $0.300 → $0.375 | +25.0% |
| Sep 18, 2014 | Raise | $0.250 → $0.300 | +20.0% |
| Sep 20, 2013 | Raise | $0.120 → $0.250 | +108.3% |
| Sep 21, 2012 | Raise | $0.100 → $0.120 | +20.0% |
Show all 23 changes since 1994
| Ex-date | Change | Old → new | Move |
|---|---|---|---|
| Sep 22, 2005 | Raise | $0.130 → $0.150 | +15.4% |
| Sep 14, 2000 | Raise | $0.110 → $0.130 | +18.2% |
| Sep 9, 1999 | Raise | $0.0900 → $0.110 | +22.2% |
| May 28, 1999 | Cut | $0.0910 → $0.0900 | −1.1% |
| Apr 28, 1999 | Raise | $0.0900 → $0.0910 | +1.1% |
| Aug 28, 1998 | Raise | $0.0750 → $0.0900 | +20.0% |
| Aug 28, 1997 | Raise | $0.0700 → $0.0750 | +7.1% |
| Sep 12, 1996 | Raise | $0.0650 → $0.0700 | +7.7% |
| Nov 29, 1995 | Raise | $0.0575 → $0.0650 | +13.0% |
| Aug 30, 1995 | Raise | $0.0550 → $0.0575 | +4.5% |
| Aug 26, 1994 | Raise | $0.0450 → $0.0550 | +22.2% |
Frequently Asked Questions
Is RCL a good dividend stock?
Yes, with caveats. Royal Caribbean Cruises Ltd. (RCL) pays a quarterly dividend yielding 1.80% ($6.00/yr), with 1 year of growth and a dividend-safety grade of C. It's a solid income payer, but check the caveats below before buying.
Is RCL undervalued?
Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, RCL's fair value is about $253.01 versus a $320.85 share price — so it looks overvalued (-21% vs. fair value).
Is RCL's dividend safe?
RCL has a dividend-safety grade of C (59/100), based on its payout coverage, free-cash-flow, 1-year growth streak, a dividend cut in 2012, debt and yield-versus-history.
What is RCL's fair value?
Our blended fair-value estimate for RCL is about $253.01 per share, about 21% below the current $320.85 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.
Is RCL a buy, hold, or sell?
We don't issue formal ratings, but on the data RCL screens as "yes, with caveats" and overvalued. Royal Caribbean Cruises Ltd. (RCL) pays a quarterly dividend yielding 1.80% ($6.00/yr), with 1 year 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 RCL cut its dividend?
RCL earns a dividend-safety grade of C (59/100), and has cut its dividend before (last in 2012). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.
Does RCL pay a dividend?
Yes. Royal Caribbean Cruises Ltd. pays a quarterly dividend of about $6.00 per share annually, a forward yield of roughly 1.80%.
How much dividend does 100 shares of RCL pay?
At $6.00 per share a year, 100 shares of RCL pay $600.00 a year in dividends before tax, about $150.00 each quarter. Buying them costs about $32,085 at the Nov 5, 2026 price.
What is RCL's dividend yield?
As of Nov 5, 2026, RCL's forward dividend yield is 1.80%, based on a $6.00 annual dividend and a $320.85 share price.
What is RCL's dividend per share?
As of Nov 5, 2026, RCL pays $6.00 per share per year, distributed on a quarterly basis.
What is RCL's dividend payout ratio?
As of Nov 5, 2026, RCL's payout ratio is 33% of trailing 12-month earnings — a comfortable level that leaves room to keep raising the dividend.
How many years has RCL grown its dividend?
As of Nov 5, 2026, RCL has increased its dividend for 1 consecutive years.
When is the next RCL ex-dividend date?
As of Nov 5, 2026, RCL's next ex-dividend date hasn't been announced. The most recent was Sep 17, 2026, for $1.50 per share.
RCL Price — Last 12 Months
Daily close
Price Return
1 Year
+15%
3 Years
+186%
5 Years
+340%
52-Week Range
$222.22 – $356.39
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is RCL worth?
Overvaluedlow confidenceOur blended fair-value estimate for Royal Caribbean Cruises Ltd. is $253.01 per share, versus a market price of $320.85. That implies 21% of downside.
Fair Value
$253.01
Current Price
$320.85
Downside
-21%
Margin of Safety
-27%
How we get there
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about 40.0% 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, $16.90 EPS, $6.00 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
RCL 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 RCL dividend history →| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Sep 17, 2026 | Oct 8, 2026 | $1.5000 | regular |
| Jun 3, 2026 | Jul 2, 2026 | $1.5000 | regular |
| Mar 6, 2026 | Apr 3, 2026 | $1.5000 | regular |
| Dec 26, 2025 | Jan 14, 2026 | $1.0000 | regular |
| Sep 25, 2025 | Oct 13, 2025 | $1.0000 | regular |
| Jun 4, 2025 | Jul 3, 2025 | $0.7500 | regular |
| Mar 7, 2025 | Apr 4, 2025 | $0.7500 | regular |
| Dec 27, 2024 | Jan 13, 2025 | $0.5500 | regular |
| Sep 20, 2024 | Oct 11, 2024 | $0.4000 | regular |
| Mar 5, 2020 | Apr 6, 2020 | $0.7800 | regular |
| Dec 19, 2019 | Jan 6, 2020 | $0.7800 | regular |
| Sep 19, 2019 | Oct 11, 2019 | $0.7800 | regular |
| Jun 3, 2019 | Jul 3, 2019 | $0.7000 | regular |
| Mar 6, 2019 | Apr 5, 2019 | $0.7000 | regular |
Income Calculator
At $6.00 / yr per share
Similar Dividend Stocks
Compare RCL
Explore more
Lists and tools related to RCL
- Does Royal Caribbean Cruises pay dividends? →
- Stocks that pay dividends in January →
- Consumer Cyclical dividend stocks →
- RCL dividend calculator →
- RCL DRIP calculator →
- RCL: last day to buy for the dividend →
- Embed RCL dividend data on your site →
- Dividend increases & cuts this week →
- Dividend calendar →
- Dividend calculator →
- Dividend income calculator →
- DRIP calculator →
- Latest dividend cuts →
- Dividend cuts this month (research note) →
- Dividend increases this month (research note) →
- Safety score track record →
- Dividend screener →
- Dividend history lookup →
- Guide: what is a good dividend yield? →
- Guide: how to value a dividend stock →