Current Yield
1.63%
TTM Dividend/Share
$5.00
Payment Frequency
Quarterly
Payout Ratio
30.5%
Consecutive Growth Years
2
Key takeaways
- Royal Caribbean Cruises (RCL) has raised its dividend for 2 consecutive years.
- Royal Caribbean Cruises (RCL) currently yields 1.63%, paying $5.00 per share over the trailing twelve months, distributed quarterly.
- Payout ratio is 30.5% — the share of earnings distributed as dividends.
- 5 of 7 dividend safety checks passed.
- 5-year dividend CAGR of 35.02% (growth is accelerating).
Dividend health for Royal Caribbean Cruises (RCL)
Cash-flow, leverage and returns metrics that signal whether the dividend is well-covered and sustainable.
Chowder score | 36.7% |
FCF payout ratio | 19.8% |
Net debt / EBITDA | 2.9x |
Interest coverage | 5.02x |
ROIC (TTM) | 17.7% |
Dividend safety score for Royal Caribbean Cruises (RCL)
Checks covering payout coverage, free-cash-flow support, leverage and dividend-growth durability.
5 of 7 checks passed
Payout ratio below 75%
Payout ratio is 30.5%, well below the 75% threshold.
Free cash flow covers dividend
TTM FCF after dividends is $409M — FCF fully covers the payout.
No dividend cuts in 10+ years
1 dividend cut(s) in the last 10 years.
Positive earnings growth trend
Earnings per share have grown over the past 5 years.
10+ years of consecutive growth
Only 2 consecutive year(s) of dividend growth.
FCF payout ratio below 70%
FCF payout ratio is 19.8%, below the 70% threshold.
Net Debt/EBITDA below 3x
Net Debt/EBITDA is 2.9x.
Dividend growth ≤ earnings growth (5Y)
N/A — earnings base is negative, CAGR not computable.
This analysis is for informational purposes only and is not financial advice. Safety scores and comparisons reflect historical data and do not predict future performance.
Per-payment dividend history
105 payments from 1993 to 2026 · Adj. Dividend is split-adjusted
| Jun 3, 2026 | Jul 2, 2026 | $1.5000 | $1.5000 |
| Mar 6, 2026 | Apr 3, 2026 | $1.5000 | $1.5000 |
| Dec 26, 2025 | Jan 14, 2026 | $1.0000 | $1.0000 |
| Sep 25, 2025 | Oct 13, 2025 | $1.0000 | $1.0000 |
| Jun 4, 2025 | Jul 3, 2025 | $0.7500 | $0.7500 |
| Mar 7, 2025 | Apr 4, 2025 | $0.7500 | $0.7500 |
| Dec 27, 2024 | Jan 13, 2025 | $0.5500 | $0.5500 |
| Sep 20, 2024 | Oct 11, 2024 | $0.4000 | $0.4000 |
| Mar 5, 2020 | Apr 6, 2020 | $0.7800 | $0.7800 |
| Dec 19, 2019 | Jan 6, 2020 | $0.7800 | $0.7800 |
| Sep 19, 2019 | Oct 11, 2019 | $0.7800 | $0.7800 |
| Jun 3, 2019 | Jul 3, 2019 | $0.7000 | $0.7000 |
- Jun 3, 2026$1.5000
- Mar 6, 2026$1.5000
- Dec 26, 2025$1.0000
- Sep 25, 2025$1.0000
- Jun 4, 2025$0.7500
- Mar 7, 2025$0.7500
- Dec 27, 2024$0.5500
- Sep 20, 2024$0.4000
- Mar 5, 2020$0.7800
- Dec 19, 2019$0.7800
- Sep 19, 2019$0.7800
- Jun 3, 2019$0.7000
Historical dividend yield for Royal Caribbean Cruises (RCL)
Mean trailing dividend yield using one ratio snapshot per calendar year.Mean yield1Y: 0.35%
Dividend per share for Royal Caribbean Cruises (RCL)
CAGR (per year)1Y: 268.42%5Y: 35.02%10Y: 10.00%↑ Accelerating
| Year | Total ($/share) | Payments |
|---|---|---|
| 1993 | $0.14 | 2 |
| 1994 | $0.20 | 4 |
| 1995 | $0.23 | 4 |
| 1996 | $0.27 | 4 |
| 1997 | $0.29 | 4 |
| 1998 | $0.33 | 4 |
| 1999 | $0.49 | 5 |
| 2000 | $0.48 | 4 |
| 2001 | $0.52 | 4 |
| 2002 | $0.52 | 4 |
| 2003 | $0.52 | 4 |
| 2004 | $0.52 | 4 |
| 2005 | $0.56 | 4 |
| 2006 | $0.60 | 4 |
| 2007 | $0.60 | 4 |
| 2008 | $0.45 | 3 |
| 2011 | $0.20 | 2 |
| 2012 | $0.44 | 4 |
| 2013 | $0.74 | 4 |
| 2014 | $1.10 | 4 |
| 2015 | $1.35 | 4 |
| 2016 | $1.71 | 4 |
| 2017 | $2.16 | 4 |
| 2018 | $2.60 | 4 |
| 2019 | $2.96 | 4 |
| 2020 | $0.78 | 1 |
| 2024 | $0.95 | 2 |
| 2025 | $3.50 | 4 |
| 2026 | $3.00 | 2 |
Dividend growth for Royal Caribbean Cruises (RCL)
Year-over-year change in total annual dividend per share (split-adjusted, by ex-dividend year). Green is an increase, red a cut.
Dividend Increase Track Record
Year-over-year change in total annual DPS (dividends per share, split-adjusted), based on ex-dividend date.
| 2026 | $3.5000 | — | — |
| 2025 | $0.9500 | $3.5000 | +268.4% |
| 2024 | $0.7800 | $0.9500 | +21.8% |
| 2020 | $2.9600 | $0.7800 | -73.6% |
| 2019 | $2.6000 | $2.9600 | +13.8% |
| 2018 | $2.1600 | $2.6000 | +20.4% |
| 2017 | $1.7100 | $2.1600 | +26.3% |
| 2016 | $1.3500 | $1.7100 | +26.7% |
| 2015 | $1.1000 | $1.3500 | +22.7% |
| 2014 | $0.7400 | $1.1000 | +48.6% |
| 2013 | $0.4400 | $0.7400 | +68.2% |
| 2012 | $0.2000 | $0.4400 | +120.0% |
| 2011 | $0.4500 | $0.2000 | -55.6% |
| 2008 | $0.6000 | $0.4500 | -25.0% |
| 2007 | $0.6000 | $0.6000 | 0.0% |
| 2006 | $0.5600 | $0.6000 | +7.1% |
| 2005 | $0.5200 | $0.5600 | +7.7% |
| 2004 | $0.5200 | $0.5200 | 0.0% |
| 2003 | $0.5200 | $0.5200 | 0.0% |
| 2002 | $0.5200 | $0.5200 | 0.0% |
| 2001 | $0.4800 | $0.5200 | +8.3% |
| 2000 | $0.4910 | $0.4800 | -2.2% |
| 1999 | $0.3300 | $0.4910 | +48.8% |
| 1998 | $0.2900 | $0.3300 | +13.8% |
| 1997 | $0.2700 | $0.2900 | +7.4% |
| 1996 | $0.2325 | $0.2700 | +16.1% |
| 1995 | $0.2000 | $0.2325 | +16.3% |
| 1994 | — | $0.2000 | — |
- 2026—
- 2025$3.5000
- 2024$0.9500
- 2020$0.7800
- 2019$2.9600
- 2018$2.6000
- 2017$2.1600
- 2016$1.7100
- 2015$1.3500
- 2014$1.1000
- 2013$0.7400
- 2012$0.4400
- 2011$0.2000
- 2008$0.4500
- 2007$0.6000
- 2006$0.6000
- 2005$0.5600
- 2004$0.5200
- 2003$0.5200
- 2002$0.5200
- 2001$0.5200
- 2000$0.4800
- 1999$0.4910
- 1998$0.3300
- 1997$0.2900
- 1996$0.2700
- 1995$0.2325
- 1994$0.2000
DPS sums split-adjusted amounts (adj. dividend) by ex-dividend calendar year—the same basis as the Adj. Dividend column in Dividend Payment History. The Dividend column can differ after stock splits. This table uses four decimals per annual total so the Change column matches the shown amounts; each payment row in Dividend Payment History also uses four.
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