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No more RCL dividends until 2022?


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Unless I read it wrong, looks like no more dividends until 2022.

 

"Pursuant to these amendments, the restrictions on paying cash dividends and effectuating share repurchases during the wavier period were extended through and including the fourth quarter of 2021."

 

https://www.cruiseindustrynews.com/cruise-news/23330-royal-caribbean-makes-more-finance-and-liquidity-moves.html

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3 minutes ago, Ubiquitous Cruiser said:

Appears to have been a condition of their 3 revolving credit lines ... banks want to make sure they get paid first.

Right.  One of RCCL's biggest problems is debt repayment.  The creditors rightly want to be paid before shareholders.

 

Also significant is the covenant restricting stock buy backs.  Buy backs are often done when the stock price declines to demonstrate faith in the company as well as increase earnings per share by reducing the number of shares.

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