Icahn Enterprises Halves Dividend to Boost CVR Energy Stake [Yahoo! Finance Canada]
Icahn Enterprises L.P. - Depositary Units representing Limited Partner Interests (IEP)
US:NASDAQ Investor Relations:
ielp.com/investor-relations
Company Research
Source: Yahoo! Finance Canada
Most Read from Bloomberg Icahn Enterprises LP will distribute a dividend of $0.50 per depositary unit in the third quarter, down from $1 per unit in the second quarter, according to an earnings statement on Friday. The firm is planning to raise its CVR Energy holding to about 81%, from 66%, it said in a separate statement. IEP will launch a tender offer to buy as many as 15 million additional CVR shares for $17.50 apiece, the statement showed. The price represents a 5.9% premium to CVR's last close in New York. Texas-based CVR Energy saw its shares tumble 24% on Oct. 29 after the refiner suspended its cash dividend for the third quarter. Bloomberg Intelligence analyst Brett Gibbs called the move a “major blow” as its annualized dividend yield had led refining peers. CVR Energy's shares have slumped 45% so far this year through Thursday, giving the company a market value of about $1.7 billion. IEP said it believes that CVR Energy's shares are undervalued and represent an attra
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News
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IEP
Earnings
- 11/8/24 - Miss
IEP
Sec Filings
- 12/27/24 - Form 4
- 12/4/24 - Form 4
- 11/21/24 - Form 8-K
- IEP's page on the SEC website