Icahn Enterprises announces dividend cut; shares slump

Icahn Enterprises LP

08/11/2024 14:59

** Shares of Carl Icahn's investment company Icahn
Enterprises L.P.  IEP.O  down 8.84% at $11.75 
    ** IEP to cut its dividend by half to 50 cents per share to
fund CVR deal as well as other investment opportunities
    ** Co posts Q3 profit of $0.05 per share, missing analysts'
average estimate of $0.21 - data compiled by LSEG
    ** Also announces proposal to acquire up to 15 mln
additional shares in CVR for a purchase price of $17.50 per
share
    ** Including session gains, stock down 25.01%

 (Reporting by Subiksha S in Bangalore)
 ((Subiksha.S@thomsonreuters.com))