Icahn Enterprises (NASDAQ: IEP) is looking to stem losses as a result of a short report issued earlier this week by Hindenburg Research. The firm this evening announced that it will be continuing its dividend as usual in an effort to calm investor fears.
“We would normally wait for the earnings call but, due to the many inquiries we have received, we are announcing now our intention to declare a distribution in the amount of $2.00 per depositary unit for the quarter ended March 31, 2023, with the election to receive either cash or additional depositary units,” commented Carl Icahn on the matter, after referring to the report published by Hindenburg as being “self-serving.”
A date for the distribution was not provided.
Icahn added that he will be taking his portion of the distribution in units, “as usual,” and that the fundamentals of the business remain unchanged.
The decision to announce the dividend prior to the firm releasing its latest round of earnings follows the company declining nearly 41% over the course of the last several days, including a further drop of 7.6% today.
“We obviously disagree with the inflammatory assertions in the Hindenburg report and intend to respond at length – and to vigorously defend IEP and its unitholders. As we stated previously, we believe that IEP’s performance will speak for itself over the long term as it always has,” concluded Icahn.
The company is currently slated to publish its first quarter 2023 earnings on May 10, after delaying the release from the original date of May 5.
Icahn Enterprises last traded at $30.09 on the Nasdaq.
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