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

Icahn Enterprises L.P. (NASDAQ:IEP) announced 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 annualized dividend and a yield of 16.03%. The ex-dividend date is Monday, November 18th.

Icahn Enterprises has decreased its dividend by an average of 9.1% per year over the last three years. Icahn Enterprises has a payout ratio of 493.8% indicating that 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 $4.00 annual dividend with an expected future payout ratio of 500.0%.

Icahn Enterprises Trading Down 0.6 %

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

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.