Icahn Enterprises Stock Jumps on Dividend News

Icahn Enterprises’ shares jumped nearly 14% after the company said it would maintain its quarterly dividend.

IEP said Friday it would pay a dividend of $1 a share in the third quarter, which represents a yield of around 20%. IEP also reported better-than-expected third-quarter revenue of $3 billion, but a loss of $6 million.

Shares in the company, which houses billionaire Carl Icahn’s investments, were down 67% this year through Thursday after a short-seller attack in May. They hit a 19-year low earlier this week.

Source link