Icahn Enterprises L.P. (NASDAQ:IEP) Plans Quarterly Dividend of $0.50

Icahn Enterprises L.P. (NASDAQ:IEP) announced a quarterly dividend on Monday, November 2nd. Shareholders of record on Monday, November 16th will be given a dividend of $0.50 per share by the conglomerate on Wednesday, December 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 37.4%. The ex-dividend date is Monday, November 16th.

Icahn Enterprises has decreased its dividend payment by an average of 0.2% per year over the last three years. Icahn Enterprises has a dividend payout ratio of 253.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Icahn Enterprises Trading Up 3.7%

Shares of IEP traded up $0.19 during midday trading on Tuesday, hitting $5.35. The stock had a trading volume of 3,618,637 shares, compared to its average volume of 1,011,992. The business has a 50-day simple moving average of $6.58 and a two-hundred day simple moving average of $7.40. The firm has a market cap of $3.80 billion, a P/E ratio of -7.23 and a beta of 0.75. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 2.98. Icahn Enterprises has a fifty-two week low of $4.97 and a fifty-two week high of $9.32.

Icahn Enterprises (NASDAQ:IEP) last released its quarterly earnings results on Wednesday, August 5th. The conglomerate reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.63). Icahn Enterprises had a negative net margin of 4.81% and a negative return on equity of 17.99%. The firm had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.04 billion.

About Icahn Enterprises

Icahn Enterprises L.P. (NASDAQ:IEP) is a diversified holding company managed by Icahn Capital LP. Its activities include making investments in public and private companies, pursuing activist investment strategies, and owning and operating businesses across several industries. The company is controlled by investor Carl C. Icahn, who serves as its chairman.

Its operating businesses have included petroleum refining and the production of nitrogen fertilizers through CVR Energy and CVR Partners, automotive parts distribution and repair services through Icahn Automotive, food packaging through Viskase Companies, and metal recycling through PSC Metals.