Reported 17 days ago
Billionaire investor Carl Icahn’s firm, Icahn Enterprises, is halving its dividend to $0.50 per unit to fund an increase in its stake in CVR Energy from 66% to 81%. This decision follows a significant drop in CVR Energy's stock price and aims to leverage perceived undervaluation in the market. The cut in dividends also seeks to allocate resources for other investment opportunities within the portfolio.
Source: YAHOO