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

Icahn Enterprises L.P. (NASDAQ:IEP) announced a quarterly dividend on Monday, May 4th. Shareholders of record on Monday, May 18th will be given a dividend of 0.50 per share by the conglomerate on Thursday, June 25th. This represents a c) annualized dividend and a yield of 25.2%. The ex-dividend date is Monday, May 18th.

Icahn Enterprises has decreased its dividend by an average of 0.2%per year over the last three years. Icahn Enterprises has a 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 Price Performance

Shares of IEP stock traded down $0.39 during trading hours on Wednesday, hitting $7.94. 2,381,720 shares of the company’s stock were exchanged, compared to its average volume of 921,955. The company has a quick ratio of 4.17, a current ratio of 4.17 and a debt-to-equity ratio of 1.93. The firm has a market cap of $5.06 billion, a P/E ratio of -13.23 and a beta of 0.83. The firm has a 50 day moving average of $7.83 and a two-hundred day moving average of $7.91. Icahn Enterprises has a fifty-two week low of $7.08 and a fifty-two week high of $9.99.

Icahn Enterprises (NASDAQ:IEP) last announced its earnings results on Wednesday, May 6th. The conglomerate reported ($0.71) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.81). The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.33 billion. Icahn Enterprises had a negative return on equity of 8.22% and a negative net margin of 2.98%.

About Icahn Enterprises

Icahn Enterprises L.P. (NASDAQ: IEP) is a diversified holding company based in New York City. Controlled by veteran investor Carl C. Icahn, the partnership makes strategic investments and owns wholly or partially controlled subsidiaries across a broad range of industries. With a flexible capital structure, Icahn Enterprises seeks to generate long-term value through active ownership, asset optimization and operational improvements.

The company reports its activities through five principal business segments.