CCL Suspends Dividends

[MightyQuinn]

In an SEC filing today, CCL announced refinancing plans which include a common stock underwriting, the issuance of secured and convertible notes and the suspension of dividends.  Can the elimination of OBC be far behind?

The Company is further announcing today that because of the Company’s liquidity management and the dividend restrictions in the indenture governing the Secured Notes, the Company is suspending the payment of dividends on the common stock of Carnival Corporation and the ordinary shares of Carnival plc.
 
https://www.carnivalcorp.com/static-files/a812ad39-01f8-4b7d-8075-a4887b776e9d

[Paulchili]

15 minutes ago, MightyQuinn said:

Can the elimination of OBC be far behind?

Can Chapter 11 be far behind?

[dalliowner]

It is understandable , with reduced income .

The banks in the UK  have been asked not to pay dividends and also to suspend bonuses to senior staff whilst this emergency is on.

[jdk-atlga]

 

That said, I do wonder about the ongoing viability of SB and what to do/plan for the future. As a stockholder who purchased for both the dividends and OBC arrangement, I can see a financial place for Carnival Corp to consolidate lines and/or sell off divisions. I can even speculate that SB could be sold to another line (Viking or Disney would be Potential  good fits To top off their offerings). Please feel free to throw this bit of my nonsense into the compost heap..