• Home
  • News
  • Personal Finance
    • Savings
    • Banking
    • Mortgage
    • Retirement
    • Taxes
    • Wealth
  • Make Money
  • Budgeting
  • Burrow
  • Investing
  • Credit Cards
  • Loans

Subscribe to Updates

Get the latest finance news and updates directly to your inbox.

Top News

What Is a Retirement Manifesto — and Why Do You Need One?

July 20, 2025

8 Simple Ways to Supplement Social Security and Live Your Best Retirement

July 20, 2025

5 AI Tools Doing Overtime So You Can Run a Profitable Solo Business (Without Losing Your Mind)

July 19, 2025
Facebook Twitter Instagram
Trending
  • What Is a Retirement Manifesto — and Why Do You Need One?
  • 8 Simple Ways to Supplement Social Security and Live Your Best Retirement
  • 5 AI Tools Doing Overtime So You Can Run a Profitable Solo Business (Without Losing Your Mind)
  • Why Top Brands Use Push Notifications to Boost Engagement
  • Astronomer CEO, HR Head Face Coldplay Kiss-Cam Scandal
  • Is AI Too Good at Tracking Stock Market Trends?
  • 460K student loan borrowers denied SAVE plan, face higher repayments: report
  • The Best Places To Retire Abroad In 2025
Sunday, July 20
Facebook Twitter Instagram
FintechoPro
Subscribe For Alerts
  • Home
  • News
  • Personal Finance
    • Savings
    • Banking
    • Mortgage
    • Retirement
    • Taxes
    • Wealth
  • Make Money
  • Budgeting
  • Burrow
  • Investing
  • Credit Cards
  • Loans
FintechoPro
Home » Carl Icahn’s company stock drops 23% after IEP slashes quarterly dividend in half
News

Carl Icahn’s company stock drops 23% after IEP slashes quarterly dividend in half

News RoomBy News RoomAugust 5, 20230 Views0
Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Email Tumblr Telegram

Shares of Carl Icahn’s conglomerate Icahn Enterprises experienced a sharp sell-off Friday after the firm slashed its quarterly dividend in half amid notable short seller Hindenburg Research’s campaign.

IEP announced it issued a $1 per depositary unit distribution, which represents a 12% annualized yield. That’s compared with a $2 dividend in the previous quarter. The stock tanked a whopping 23.2% after the news.

related investing news

CNBC Pro

Icahn’s company has been on a roller-coaster ride since the Nathan Anderson-led short seller took a public short position in May, alleging “inflated” asset valuations, among other reasons. Shares of IEP, a holding company that is involved in myriad businesses including energy, automotive and real estate, tumbled nearly 44% in the second quarter. The stock is down 50.5% year to date.

Hindenburg took issue with IEP’s high dividend yield, saying it’s “unsupported” by the company’s cash flow and investment performance.

“The payment of future distributions will be determined by the board of directors quarterly, based upon current economic conditions and business performance and other factors,” 87-year-old investor Icahn said in a statement Friday. “We do not intend to let a misleading Hindenburg report interfere with this practice.”

Icahn Enterprises on Friday reported a net loss of $269 million for the second quarter, more than doubling the loss of $128 million from the same quarter a year ago. Icahn attributed the disappointing quarter to the short selling activity in his controlling companies and investments.

“I believe the second quarter partially reflected the impact of short-selling on companies we control or invest in, which I attribute to the misleading and self-serving Hindenburg report concerning our company. It also reflected the size of the hedge book relative to our activist strategy,” Icahn said.

In the aftermath of Hindenburg’s comments, federal investigators sought information regarding IEP’s corporate governance, capitalization, securities offerings, dividends, valuation, marketing materials, due diligence and other materials.

Icahn, the most well-known corporate raider in history, made his name after pulling off a hostile takeover of Trans World Airlines in the 1980s, stripping the company of its assets. Most recently, the billionaire investor has engaged in activist investing in McDonald’s and biotech firm Illumina.

Read the full article here

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Articles

RSS Feed Generator, Create RSS feeds from URL

News November 22, 2024

X CEO Linda Yaccarino addresses Musk’s ‘go f—- yourself’ comment to advertisers

News November 30, 2023

67-year-old who left the U.S. for Mexico: I’m happily retired—but I ‘really regret’ doing these 3 things in my 20s

News November 30, 2023

U.S. GDP grew at a 5.2% rate in the third quarter, even stronger than first indicated

News November 29, 2023

Americans are ‘doom spending’ — here’s why that’s a problem

News November 29, 2023

Jim Cramer’s top 10 things to watch in the stock market Tuesday

News November 28, 2023
Add A Comment

Leave A Reply Cancel Reply

Demo
Top News

8 Simple Ways to Supplement Social Security and Live Your Best Retirement

July 20, 20250 Views

5 AI Tools Doing Overtime So You Can Run a Profitable Solo Business (Without Losing Your Mind)

July 19, 20250 Views

Why Top Brands Use Push Notifications to Boost Engagement

July 19, 20250 Views

Astronomer CEO, HR Head Face Coldplay Kiss-Cam Scandal

July 19, 20250 Views
Don't Miss

Is AI Too Good at Tracking Stock Market Trends?

By News RoomJuly 19, 2025

Disclosure: Our goal is to feature products and services that we think you’ll find interesting…

460K student loan borrowers denied SAVE plan, face higher repayments: report

July 19, 2025

The Best Places To Retire Abroad In 2025

July 19, 2025

12 Chronic Diseases That Plague Older Americans by the Millions

July 19, 2025
Facebook Twitter Instagram Pinterest Dribbble
  • Privacy Policy
  • Terms of use
  • Press Release
  • Advertise
  • Contact
© 2025 FintechoPro. All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.