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

Icahn Enterprises L.P. (NASDAQ:IEP) declared a quarterly dividend on Wednesday, November 6th,Wall Street Journal reports. Shareholders of record on Monday, November 18th will be given a dividend of 0.50 per share by the conglomerate on Thursday, December 26th. This represents a $2.00 dividend on an annualized basis and a yield of 16.03%. The ex-dividend date of this dividend 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 250.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Icahn Enterprises to earn $0.80 per share next year, which means the company may not be able to cover its $2.00 annual dividend with an expected future payout ratio of 250.0%.

Icahn Enterprises Stock Performance

Icahn Enterprises stock opened at $12.48 on Friday. Icahn Enterprises has a 12-month low of $9.72 and a 12-month high of $22.59. The company has a current ratio of 4.61, a quick ratio of 4.85 and a debt-to-equity ratio of 1.34. The business’s 50-day moving average price is $13.25 and its two-hundred day moving average price is $15.28.

Icahn Enterprises Company Profile

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.