Phil & e v e r y o n e...,
Don't buy RCL stock - the $100 on board credit isn't worth it. I don't know if you follow RC stock or just like the idea owning it... I bot 100 sh at $40 last Fall 07 to get the on-board credit & then didn't watch the stock. My mistake. It went to $43, then to $40, then back to $43, (I should have sold), the year high was $46 in Feb 07. It went to down to $35 (Jan-March 08). I wasn't watching until it went to $37. I put in a buy order for 200 at $34.50 with a contingent sell at $37.50 and it was filled. Since it hovered between $35-$37 for the early part of 08, I thought I'm a genius. Only bad thing now is it is at $32.40 (3/28/08) RC stock really isn't worth it. I've since found out it is extremely voliate and, obviously, price sensitive to crude oil at $104.50 a barrel (3/28/08).
As far as the dividend side of the investment, yes, they have paid for 50+ straight quarters. However at $.15 per share quarterly dividend, per the 2006 annual report (latest available), their annual dividend is 60 cents for a $32.40 investment, or a 1.8% return. This is extremely unfortunate since their Earnings Per Share (diluated) is $2.94 per share. Each share earns $2.94 but receives only $.60.
It's a great company and one of the best. We've always had a wonderful time aboard their ships - but as far as an investment - pass on it.