Icahn Enterprises L.P. Announces Quarterly Distribution
November 01 2019 - 8:00AM
Icahn Enterprises L.P. (NASDAQ:IEP) announced today that the Board
of Directors of the general partner of Icahn Enterprises declared a
quarterly distribution in the amount of $2.00 per depositary unit.
The quarterly distribution is payable in either cash or additional
depositary units, at the election of each depositary unitholder and
will be paid on or about December 20, 2019 to depositary unit
holders of record at the close of business on November 15, 2019.
Depositary unitholders have until December 11, 2019 to make an
election to receive either cash or additional depositary units; if
a holder does not make an election, it will automatically be deemed
to have elected to receive the distribution in cash. Depositary
unitholders who elect to receive additional depositary units will
receive units valued at the volume weighted average trading price
of the units on NASDAQ during the 5 consecutive trading days ending
December 18, 2019. No fractional depositary units will be issued
pursuant to the distribution payment. Icahn Enterprises will make a
cash payment in lieu of issuing fractional depositary units to any
holders electing to receive depositary units. Any holders that
would only be eligible to receive a fraction of a depositary unit
based on the above calculation will receive a cash payment.
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
Results for any interim period are not necessarily indicative of
results for any full fiscal period. 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
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, uncertainties and other factors, including risks
related to economic downturns, substantial competition and rising
operating costs; risks related to our investment activities,
including the nature of the investments made by the private funds
in which we invest, losses in the private funds and loss of key
employees; risks related to our ability to continue to conduct our
activities in a manner so as to not be deemed an investment company
under the Investment Company Act of 1940, as amended; risks related
to our energy business, including the volatility and availability
of crude oil, other feed stocks and refined products, unfavorable
refining margin (crack spread), interrupted access to pipelines,
significant fluctuations in nitrogen fertilizer demand in the
agricultural industry and seasonality of results; risks related to
our automotive activities, including exposure to adverse conditions
in the automotive industry; risks related to our food packaging
activities, including competition from better capitalized
competitors, inability of its suppliers to timely deliver raw
materials, and the failure to effectively respond to industry
changes in casings technology; risks related to our scrap metals
activities, including potential environmental exposure; risks
related to our real estate activities, including the extent of any
tenant bankruptcies and insolvencies; risks related to our home
fashion operations, including changes in the availability and price
of raw materials, and changes in transportation costs and delivery
times; and other risks and uncertainties detailed from time to time
in our filings with the Securities and Exchange Commission. Past
performance in our Investment segment is not indicative of future
performance. We undertake no obligation to publicly update or
review any forward-looking information, whether as a result of new
information, future developments or otherwise.
Investor Contacts:SungHwan Cho, Chief Financial
OfficerPeter Reck, Chief Accounting Officer(212) 702-4300
Icahn Enterprises (NASDAQ:IEP)
Historical Stock Chart
From Mar 2024 to Apr 2024
Icahn Enterprises (NASDAQ:IEP)
Historical Stock Chart
From Apr 2023 to Apr 2024