The on-board booking credit, as it was explained to me, is in addition to ALL other cabin credit no matter where it came from. Such as credit from your travel agent, credit incentive from Princess in their advertizing, Elite cabin credit, etc.
After reading a few more comments written on different bulletin boards I went back & re-read the Carnival Shareholder Benefit statement on their web site. It appears that the cabin credit isn't all that great a benefit as it appears on the surface since it can't be combined with other credits.
"This benefit is available to shareholders holding a minimum of 100 shares of Carnival Corporation or Carnival plc. Employees, travel agents cruising at travel agent rates, tour conductors or anyone cruising on a reduced-rate or complimentary basis are excluded from this offer. This benefit is not transferable, not combinable with any other shipboard offer and cannot be used for casino credits/charges and gratuities charged to your onboard account."
Since we rarely cruise without getting some form of other cabin credit (TA, on-board credit & Elite Cabin Credit) this benefit of owning CCL stock to get the credit seems to be worthless to me & with all the rumblings of the new law which about to be implemented http://www.usatoday.com/travel/cruises/2008-02-09-cruis...loc=interstitialskip
I for one, wouldn't want to just by into a cruise company stock at this point in time just for appreciation.