Carnival Corp. said Thursday that its board renewed its authorization for the buyback of up to $1 billion of the company’s shares and declared a quarterly dividend of 25 cents.

The Miami-based cruise company said it has repurchased 2 million shares of its common stock worth $78 million since the start of fiscal 2013, bringing the total amount purchased so far under the $1 billion authorization originally approved in 2007 to $835 million.