Cruise giant Carnival Corp. has renewed its authorization to repurchase up to $1 billion of stock and declared a quarterly dividend of $.25 per share.

The Miami-based company said Thursday it had already repurchased 2 million shares of Carnival Corporation common stock, valued at $78 million, since the start of the fiscal year. The company’s board of directors on Wednesday increased repurchase authorization from the remaining $165 million to $1 billion.