CVR Energy to Pay Special Dividend
CVR Energy is reaching into its coffers to provide additional cash for shareholders. The company has declared a special dividend of $6.50 per share. This will be paid on June 10 to stockholders of record as of June 3. All told, the extraordinary payout will cost CVR Energy roughly $564 million. So far this year, it has dispensed around $1.1 billion in dividends.
The firm quoted its high-profile chairman, Carl Icahn, as saying of its recent distributions that "surpassing the billion dollar mark in returns to our stockholders by mid-year speaks volumes about the strength of our operating performance."
The special dividend yields 9.2% at CVR Energy's current stock price of $70.35.
The article CVR Energy to Pay Special Dividend originally appeared on Fool.com.Fool contributor Eric Volkman has no position in CVR Energy, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.