Business
Icahn Enterprises L.P. Issues Statement Regarding Quarterly Distribution
NEW YORK, March 23, 2020 (GLOBE NEWSWIRE) -- In response to investor inquiries and market speculation, Icahn Enterprises L.P. (NASDAQ:IEP) today confirmed
About this update from Icahn Enterprises L.p.
[{"type":"text","content":"NEW YORK, March 23, 2020 (GLOBE NEWSWIRE) -- In response to investor inquiries and market speculation, Icahn Enterprises L.P. (NASDAQ:IEP) today confirmed that it is the intention of the Board of Directors of the general partner of Icahn Enterprises to maintain the regular quarterly distribution, in the amount of $2.00 per depositary unit, for the foreseeable future. Depositary unitholders will continue to have the right to make an election each quarter to receive either cash or additional depositary units; if a unitholder does not make an election, it will automatically be deemed to have elected to receive the distribution in cash.\n Icahn Enterprises and its subsidiaries maintain ample liquidity to take advantage of attractive opportunities for their respective businesses. Icahn Enterprises’ liquid assets (comprised of cash and cash equivalents and investments in the investment funds comprising Icahn Enterprises’ Investment segment) totaled over $6 billion as of March 20, 2020. This does not include the indicative net asset value of Icahn Enterprises’ operating subsidiaries (including CVR Energy, Inc., Icahn Automotive Group LLC, Viskase Companies, Inc., PSC Metals LLC, WestPoint Home LLC, and the rental real estate, property development and club operations assets comprising Icahn Enterprises’ Real Estate segment), which totaled approximately $5.5 billion as of December 31, 2019.1 Icahn Enterprises L.P., a master limited partnership, is a diversified holding company engaged in seven primary business segments: Investment, Energy, Automotive, Food Packaging, Metals, Real Estate and Home Fashion. Caution Concerning Forward-Looking Statements This release may contain certain \"forward-looking statements\" within the meaning of the Private Securities Litigation Reform Act of 1995, many of which are beyond our ability to control or predict. Forward-looking statements may be identified by words such as \"expects,\" \"anticipates,\" \"intends,\" \"plans,\" \"believes,\" \"seeks,\" \"estimates,\" \"will\" or words of similar meaning and include, but are not limited to, statements about the expected future business, distributions and financial performance of Icahn Enterprises L.P. and its subsidiaries. Actual events, results and outcomes may differ materially from our expectations due to a variety of known and unknown risks, uncertainti...