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20 Feb 2018 07:00
Carnival PLC - Share Repurchase ProgrammeCarnival PLC - Share Repurchase Programme
PR Newswire
London, February 19
| Share Repurchase Programme |
| MIAMI, 20 February 2018 - Carnival Corporation & plcĀ (NYSE/LSE: CCL; NYSE: CUK)Ā (the āCompanyā) is committed to increasing shareholder returns through a combination of dividend distributions and share repurchases. In line with that policy, and as previously announced, on 6 April 2017 the Company's board of directors approved a modification of the general authorization under the share repurchase programme, which replenished the remaining authorized purchases remaining at the time of approval to US$1Ā billion, covering both Carnival Corporation common stock and Carnival plc ordinary shares (the āProgrammeā). At this time there is US$394Ā million remaining under the Programme. The purpose of the Programme is to reduce the Company's share capital as part of its commitment to increasing shareholder returns through the repurchase of both Carnival Corporation common stock and Carnival plc ordinary shares. As part of the Programme, the Company has entered into arrangements with brokers to continue to repurchase on behalf of the Company ordinary shares in CarnivalĀ plc, subject to certain pre?set parameters, through 4 July 2018 (in line with the share repurchase authority granted at the Carnival plc 2017 annual general meeting). In accordance with that authority, the maximum number of CarnivalĀ plc shares remaining to be repurchased will not exceed 16Ā million. The Programme may continue during any closed periods of the Company which may fall during this period. All CarnivalĀ plc ordinary shares repurchased under the Programme will be held in treasury. |
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