Key Highlights

  • Royal Caribbean's $1.50 quarterly Dividend has a Record Date of September 17, 2026, payable October 8, yielding approximately 2.21%.
  • Second-quarter Revenue reached approximately $4.83 billion, up 6.5% year over year, with onboard revenue growing approximately 11% to about $1.5 billion.
  • Net income attributable to the company was approximately $1.128 billion, or $4.20 diluted EPS, with adjusted EPS of $4.21.
  • Management raised full-year 2026 adjusted EPS guidance to $17.73-$17.87.

Royal Caribbean Group's (NYSE:RCL) $1.50 quarterly dividend yields approximately 2.21% and represented approximately 36% of second-quarter adjusted EPS of $4.21, a Payout Ratio maintained through a third consecutive quarterly declaration at $1.50 per share in 2026. The dividend was declared alongside raised full-year adjusted EPS guidance of $17.73-$17.87, supported by first-half 2026 Shareholder returns of approximately $674 million of dividends and roughly $1.0 billion of stock repurchases.

Dividend Program and Shareholder Returns

Royal Caribbean declared a $1.50-per-share quarterly dividend on September 1, 2026, payable October 8 to shareholders of record as of September 17. This is the third consecutive 2026 quarterly declaration at $1.50, implying an annualized common dividend of $6.00 per share. The company has also been actively repurchasing shares, with first-half 2026 shareholder returns including approximately $674 million of dividends and roughly $1.0 billion of stock repurchases.

About the Company

Royal Caribbean Group is a global vacation company operating three wholly owned brands—Royal Caribbean, Celebrity Cruises and Silversea—alongside a 50% interest in TUI Cruises, currently operating 71 ships serving more than 1,000 destinations.

Financial Performance Behind the Payout

Royal Caribbean Group reported second-quarter revenue of approximately $4.83 billion, up 6.5% year over year, supported by 4.9% capacity growth. Passenger-ticket revenue increased approximately 4.5%, while onboard revenue grew about 11% to approximately $1.5 billion. Net Income attributable to the company was approximately $1.128 billion, or $4.20 diluted EPS, while adjusted EPS was $4.21. Management raised full-year 2026 adjusted EPS guidance to $17.73-$17.87.

Onboard Spending Growth Outpaces Ticket Revenue

Onboard revenue growth of approximately 11%, faster than the roughly 4.5% increase in passenger-ticket revenue, means a larger share of the quarter's revenue increase came from dining, beverages, entertainment and excursions rather than ticket pricing or capacity alone. The company continues expanding its private-destination portfolio through Perfect Day and Royal Beach Club, and is preparing to enter river cruising with Celebrity River Cruises in 2027, initiatives that extend the company's revenue base beyond ship-based ticket and onboard spending.

Outlook

Royal Caribbean's dividend has remained at $1.50 per share for three consecutive quarterly declarations in 2026, a period in which full-year adjusted EPS guidance was raised. Metrics relevant to the payout's context going forward include the durability of onboard revenue growth relative to ticket revenue, capacity growth trends, and progress on the private-destination and river-cruising expansion initiatives.