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Royal Caribbean boosts its dividend by 20%

Dividend goes to 30 cents per share
Royal Caribbean Cruises Ltd. declared a 5-cent increase in its quarterly cash dividend to 30 cents per share.

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

The 20% increase was made possible by the efforts of the overall organization to continue to improve the company's financial position, Royal Caribbean chairman and ceo Richard Fain said.

'It demonstrates our commitment to increasing shareholder value and our confidence in our ability to continue to grow returns in the future,' he added.

The amount is above Wells Fargo Securities' 27.5-cent per share forecast for Q3, analyst Tim Conder said, adding that fundamental trends continue to be strong.

'We believe the company is targeting an approximate 30% payout ratio going forward,' the brokerage said in a note.

RCL shares closed at $66.07, off 34 cents, on Tuesday.