LYCOS RETRIEVER 
Carnival: Carnival Corporation
built 630 days ago
Holders of Carnival Corporation common stock and Carnival plc ADSs will receive the dividend payable in U.S. dollars. The dividend for Carnival plc ordinary shares will be payable in U.S. dollars or sterling. In the absence of instructions or elections to the contrary, holders of Carnival plc ordinary shares will automatically receive the dividend in sterling.
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According to Carnival Corporation & plc Chairman and CEO Micky Arison, the recent spike in fuel prices has dramatically impacted the company's operating costs... necessitating the supplement. The price the company pays for fuel has increased 140 percent over the last three years, with a 50 percent increase occurring in just the last seven months.
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CONTACT: Media, U.S.: Tim Gallagher of Carnival Corporation & plc, +1-305-599-2600 ext. 16000; U.K.: Sophie Fitton or Sophie Brand of Brunswick Group, +44 (0) 20 7404 5959; or Investors: Beth Roberts of Carnival Corporation & plc, +1-305-406-4832
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Gerry Cahill, 56, joined Carnival Corporation in 1994 as vice president - finance and in 1998 was promoted to senior vice president - finance and chief financial officer. In December 2003, he was named executive vice president and CFO. From 1988 to 1994, Cahill was with Safecard Services, Inc., a NYSE-listed company, where he served first as chief financial officer and then as chief operating officer. From 1979 to 1988, Cahill held financial posts at Resorts International, Inc., and prior to that spent six years with Price Waterhouse.
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The transaction is expected to close on September 14, 2007, with Carnival owning 75 percent of the joint venture and Orizonia owning 25 percent. The new joint venture company will be consolidated into Carnival Corporation & plc's financial results starting in the fourth quarter 2007 and is expected to be accretive to results in 2008.
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The sellers have advised Carnival Corporation that they are selling for estate planning and diversification purposes. In connection with the sales, the sellers are expected to enter into one or more sales plans under Rule 10b5-1. Rule 10b5-1 permits the creation of written plans for buying or selling stock at a time when insiders are not in possession of material non- public information.
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Carnival Corporation