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

by · The Markets Daily

Icahn Enterprises L.P. (NASDAQ:IEP – Get Free Report) announced a quarterly dividend on Monday, November 11th,Wall Street Journal reports. Stockholders of record on Monday, November 18th will be paid a dividend of 0.50 per share by the conglomerate on Thursday, December 26th. This represents a $2.00 annualized dividend and a dividend yield of 15.54%. The ex-dividend date is Monday, November 18th.

Icahn Enterprises has decreased its dividend by an average of 9.1% annually over the last three years. Icahn Enterprises has a payout ratio of 493.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Icahn Enterprises to earn $0.81 per share next year, which means the company may not be able to cover its $4.00 annual dividend with an expected future payout ratio of 493.8%.

Icahn Enterprises Stock Performance

Shares of IEP traded up $0.77 during mid-day trading on Monday, hitting $12.87. The stock had a trading volume of 1,371,701 shares, compared to its average volume of 887,630. The firm has a market cap of $6.12 billion, a P/E ratio of -10.52 and a beta of 0.78. Icahn Enterprises has a 52 week low of $9.72 and a 52 week high of $22.59. The company has a debt-to-equity ratio of 1.23, a current ratio of 4.85 and a quick ratio of 4.85. The business has a fifty day moving average price of $13.20 and a 200-day moving average price of $15.44.

About Icahn Enterprises

(Get Free Report)

Icahn Enterprises L.P., through its subsidiaries, engages in the investment, energy, automotive, food packaging, real estate, home fashion, and pharma businesses in the United States and Internationally. The Investment segment invests its proprietary capital through various private investment funds. This segment provides investment advisory and other related services.

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