Carnival declares special dividend of 50 cents

Associated Press

MIAMI (AP) — Carnival Corp. said Friday that its board declared a special dividend of 50 cents on top of the cruise line operator's regular 25-cent quarterly dividend.

The Miami company's regular dividend will be paid Dec. 14, and the one-time payout on Dec. 28.

Moody's Investors Service said Friday that the special dividend, which will come to $390 million, isn't good for Carnival's credit profile, but shouldn't affect the company's debt ratings.

Carnival Corp. shares fell 18 cents to $37.21 in late afternoon trading.