End of shareholder benefits?

[ighten]

Latest Voting proxy has just dropped on my shares and says board recommendation for Carnival is to continue the benefit.

 

This happens every year so why its a suprise or drama  is a little bizarre

Edited February 27 by ighten

[Jim_Iain]

2 hours ago, ighten said:

Latest Voting proxy has just dropped on my shares and says board recommendation for Carnival is to continue the benefit.

 

This happens every year so why its a suprise or drama  is a little bizarre

Have to agree with you.     This happens annually and this year is no different from any other year.  

[Solent Richard]

13 hours ago, ighten said:

Latest Voting proxy has just dropped on my shares and says board recommendation for Carnival is to continue the benefit.

 

This happens every year so why its a suprise or drama  is a little bizarre

Thank you and exactly what I hinted at # 21. 😂

 

 

[tacticalbanjo]

Does this mean that Carnival amend the annual report after it's published every year? Without changing the date they were published? Because previous annual reports which are ostensibly published before the AGM have the Shareholder Benefit sections even though it has apparently not been voted on at that stage.

[bluemarble]

2 minutes ago, tacticalbanjo said:

Does this mean that Carnival amend the annual report after it's published every year? Without changing the date they were published? Because previous annual reports which are ostensibly published before the AGM have the Shareholder Benefit sections even though it has apparently not been voted on at that stage.

 

No, in previous years the Carnival annual reports have mentioned the shareholder benefit when originally published in late February/early March. The omission of the section about the shareholder benefit in this year's annual report is what prompted this topic.

[Victoria2]

18 hours ago, ighten said:

Latest Voting proxy has just dropped on my shares and says board recommendation for Carnival is to continue the benefit.

 

This happens every year so why its a suprise or drama  is a little bizarre

I must have had a different form sent as I didn't see any mention of shareholder benefits. That or as a CCL novice, I wasn't looking in the correct place which wouldn't surprise me in the slightest, being a bit slow with anything to do with financial reports etc.😃

[ExArkie]

1 hour ago, Victoria2 said:

I must have had a different form sent as I didn't see any mention of shareholder benefits. That or as a CCL novice, I wasn't looking in the correct place which wouldn't surprise me in the slightest, being a bit slow with anything to do with financial reports etc.😃

It is worth mentioning that Annual Reports and Proxy Statements do not necessarily contain the same information. While the 2022 Annual Report specifically mentioned the shareholder benefit (section immediately following the Executive Summary), there was no mention of it in the 2023 Annual Report, hence this thread.

 

Those who are current shareholders will receive a proxy statement that lists actions the board recommends be taken by the corporation or actions that have been added to the annual meeting agenda arising from shareholder initiatives. The current proxy statement apparently includes a recommendation to vote in favor of the shareholder benefit. We sold our Carnival stock last year to take tax advantage of the capital loss (sold our house, triggering a huge capital gain, and we had already recouped the Carnival stock losses in OBC over the years we had it), so we did not receive the proxy statement.

 

I do not recall the shareholder benefit being a matter for voting at the annual meeting in years past, but generally an action taken by the board independent of a shareholder vote. It may have occurred, since I don't retain proxy statements from the past (you're surprised at that, I'm sure), but I don't recall it. Potentially this is a result of whatever governance changes have occurred over the year or two.

[Victoria2]

The current proxy statement apparently includes a recommendation to vote in favor of the shareholder benefit

 

For what my vote is worth, I have voted on the proxy form but didn't see this which is why I said I have missed it.

If it happens, great, if not, I have the fun in watching my 100 shares double and then some in value having already recouped the initial in cruise obc.

As I said, all good fun. 🙂

 

 

 

 

[tacticalbanjo]

The proxy statement can be found here. Shareholder benefits does not appear to be mentioned in any of the proposals unless I've been daft (high possibility!). It would be great if those who've managed to find the reference can tell the rest of us where it is. Or is the online version available through the investor relations site not what you have been sent?

[Solent Richard]

Of course Carnival shareholder OBC applies across the Carnival Corporation brands and not just for Cunard.

 

Irrespective of any dividend payment I've been more than happy to have been rewarded not only on Cunard cruises but also P&O, Princess, Seabourn and, God forbid, Carnival Cruise Line. 😁

[Host Hattie]

On 2/27/2024 at 7:21 PM, ighten said:

Latest Voting proxy has just dropped on my shares and says board recommendation for Carnival is to continue the benefit.

 

This happens every year so why its a suprise or drama  is a little bizarre

Can you share a screenshot of that part of the proxy ? It doesn't appear on the version available online. 

[Gretchendz]

Sometimes I believe that every bad rumor in the world begins with a facebook post.

[IB2]

On 2/27/2024 at 1:13 PM, BigMac1953 said:

...but my point was; there are no more shares on the market! The total amount of shares now is exactly the same as before Covid. Carnival have not issued any more shares.

 

Whether people buy/ sell makes no difference to the amount in circulation.

But people can buy them for the OBC and then sell them.  Holders aren’t required to hang onto them for life!  Thus the number of potential owners isn’t limited.

[BigMac1953]

5 hours ago, IB2 said:

But people can buy them for the OBC and then sell them.  Holders aren’t required to hang onto them for life!  Thus the number of potential owners isn’t limited.

 

Don't forget, many people may well decide to purchase extra shares to boost their holding when the price is low and/or attractive.

 

Therefore, the potential benefits pool would sharply decrease.

 

It works two ways!

[IB2]

47 minutes ago, BigMac1953 said:

 

Don't forget, many people may well decide to purchase extra shares to boost their holding when the price is low and/or attractive.

 

Therefore, the potential benefits pool would sharply decrease.

 

It works two ways!

They might want to look at the amount of debt that Carnival is carrying, first.  The shares have perked up recently largely because people don’t expect further interest rate rises.  But their debt burden is massive.

Edited March 3 by IB2

[Winifred 22]

1 hour ago, IB2 said:

They might want to look at the amount of debt that Carnival is carrying, first.  The shares have perked up recently largely because people don’t expect further interest rate rises.  But their debt burden is massive.

But they are gradually paying it down. I have also read that Carnival have just ordered another Excel Class ship to join the other 3 they already have. They must feel some confidence in their future. 

Edited March 3 by Winifred 22

[mahasamatman]

As expected, the shareholder benefit has been renewed (through 31 December).

[BlerkOne]

5 minutes ago, mahasamatman said:

As expected, the shareholder benefit has been renewed (through 31 December).

and has nothing to do with an Annual Report or a shareholder meeting. All it takes is the Board to make it so.

[Host Hattie]

Details here

[Victoria2]

23 minutes ago, Host Hattie said:

Details here

Excellent news.👍

 

Thank you for sharing.

[Solent Richard]

34 minutes ago, Host Hattie said:

Details here

 

On 2/27/2024 at 5:18 PM, Solent Richard said:

 

Well er yes Major.

 

Maybe it's a ploy to get those with multiple 'future bookings' to rush in and pay their balances,  earlier than the normal due date, in order to beat the faux deadline.

 

My understanding is that OBC will only be allocated once the FULL balance has been paid.

😉😉

 

 

 

Thank you HH.

 

Makes my #21 comment all the more relevant. 

[tacticalbanjo]

2 hours ago, Solent Richard said:

 

 

Thank you HH.

 

Makes my #21 comment all the more relevant. 

Not really. In the UK, at least, the rule is that you can't apply for shareholder benefits until you have less than 90 days until departure which is final payment anyway. Whether they let you apply before then is neither here nor there when the advertised rule per the FAQs is to apply between 90 and 21 days before departure.

Edited March 5 by tacticalbanjo

[Victoria2]

25 minutes ago, tacticalbanjo said:

Not really. In the UK, at least, the rule is that you can't apply for shareholder benefits until you have less than 90 days until departure which is final payment anyway. Whether they let you apply before then is neither here nor there when the advertised rule per the FAQs is to apply between 90 and 21 days before departure.

Good to know you're on the ball and thank you for starting this thread. I have learnt one or two things.

 

I'm not CCL savvy and am perfectly happy to own my own incompetence or short comings [of which I have many] and knowledge of how 'things' work between CCL shares and the obc they give.

 

However, I'm also very happy to own my savviness in buying shares at all but rock bottom prices. Not savvy enough to buy loads of shares and sell some on admittedly but savvy enough to see my outlay recouped this year and more than happy letting others do the leg work for me in all things to do with our cruise holidays.

 

My future cruises have been registered with the company who deals with my CCL shares and will apply for the credit at the appropriate time.

 

One happy punter here, incompetent, absolutely, but also savvy too! 😄

[Solent Richard]

3 hours ago, tacticalbanjo said:

Not really. In the UK, at least, the rule is that you can't apply for shareholder benefits until you have less than 90 days until departure which is final payment anyway. Whether they let you apply before then is neither here nor there when the advertised rule per the FAQs is to apply between 90 and 21 days before departure.

Hi there @tacticalbanjo .

 

Being a particularly CCL savvy cruiser ( Comment # 35)  I was perfectly aware of the significance of the dates for final payment and the timing for claiming shareholder's OBC.

 

In my comment # 21 I was merely offering a possible  'lifeline' to a member who had 'sent through multiple requests for Shareholder OBC' . 😉😉

[tacticalbanjo]

15 minutes ago, Solent Richard said:

Hi there @tacticalbanjo .

 

Being a particularly CCL savvy cruiser ( Comment # 35)  I was perfectly aware of the significance of the dates for final payment and the timing for claiming shareholder's OBC.

 

In my comment # 21 I was merely offering a possible  'lifeline' to a member who had 'sent through multiple requests for Shareholder OBC' . 😉😉

I still don't follow your point though. How does delaying the renewal of shareholder benefits encourage people to pay their full balances when they still wouldn't be apply for shareholder OBC at that point?

 

Anyway, now we can have fun speculating as to why Carnival Corp have only chosen to extend shareholder benefits to the end of December when in previous years (I've checked each annual report going back to the 2015 report) they've renewed shareholder benefits for a whole calendar year. 😈