Icahn Enterprises L.P. (IEP) to Issue Quarterly Dividend of $0.50 on December 26th

Icahn Enterprises L.P. (NASDAQ:IEP) announced a quarterly dividend on Wednesday, November 6th,Wall Street Journal reports. Investors 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 dividend on an annualized basis and a yield of 16.03%. The ex-dividend date is Monday, November 18th.

Icahn Enterprises has decreased its dividend payment by an average of 9.1% annually over the last three years. Icahn Enterprises has a payout ratio of 493.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Icahn Enterprises to earn $0.80 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 500.0%.

Icahn Enterprises Stock Down 0.6 %

Shares of NASDAQ IEP opened at $12.48 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 4.61 and a quick ratio of 4.85. The firm’s 50-day moving average is $13.25 and its two-hundred day moving average is $15.30. Icahn Enterprises has a 12-month low of $9.72 and a 12-month high of $22.59. The company has a market capitalization of $6.29 billion, a PE ratio of -11.45 and a beta of 0.78.

About Icahn Enterprises

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.