Royal Caribbean Cruises (RCL) saw its stock surge 5.07% during intraday trading on Wednesday, driven by the company's announcement of a new $2 billion stock buyback program and a quarterly dividend of $1.00 per share.
The cruise line operator revealed that its board of directors approved the buyback, reflecting confidence in its financial position and commitment to shareholder returns. CFO Naftali Holtz emphasized the company's focus on delivering long-term value through strategic growth and capital returns. Additionally, Royal Caribbean has already repurchased $1 billion of stock since July 2024.
The dual announcement of the buyback and dividend underscores the company's robust financial health, likely fueling investor optimism and contributing to the stock's significant intraday gain.
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