(Reuters) – Icahn Enterprises on Friday said it would cut its dividend payout months after short seller Hindenburg Research accused the investment firm of operating a “Ponzi-like” structure to pay dividends.
The investment firm, owned by Carl Icahn, said it would distribute $1 per depositary unit to its investors, lower than its usual quarterly dividend of $2 per unit.
Shares of Icahn Enterprises fell 24% in premarket trading.
(Reporting by Niket Nishant in Bengaluru; Editing by Milla Nissi)
