Royal Caribbean Cruises hiked its quarterly dividend payment by 28%, which could see it shell out an additional $90.4m per year if it holds the new level.

The Miami cruiseship owner, the world’s second largest, said it will now pay shareholders $0.48 per share on 13 October.

The hike is the largest annual increase for Royal Caribbean since October 2013, when the company doubled its payout to shareholders.

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