BUZZ-Icahn Enterprises announces dividend cut; shares slump

Reuters

2024-11-08

BUZZ-Icahn Enterprises announces dividend cut; shares slump

** 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))

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