Carl Icahn Was Buying Twitter Shares Before Musk’s Big News, Now He Holds These 2 Dividend Stocks – CVR Energy (NYSE:CVI), Crown Holdings (NYSE:CCK)

Carl Icahn became known as the corporate raider in the 1980s, after profiting from the hostile takeover and asset stripping of Trans World Airlines. Icahn is the founder and controlling shareholder of Icahn Enterprises IEP, which is run by the investment subsidiary Icahn Capital LP.

Icahn Capital was building a stake in Twitter TWTR before Elon Musk offered to buy it in April, Icahn told CNBC, “The stock went down a little bit, so I was starting to buy stock, then I felt I would try to get on the board of it.” Icahn also said that Musk was the perfect guy to purchase the social media platform and that if he was asked, he might have joined Musk by investing $1 billion.

Icahn started purchasing shares of Twitter at around $30 per share, putting over $500 million into the stock. He ended up accumulating an estimated profit north of $250 million, according to The Wall Street Journal.

In the third quarter, Icahn also increased his stake in Southwest Gas Holdings SWX by roughly 30%, accounting for 2.2% of the portfolio.

Here are two dividend stocks Carl Icahn owns.

Also Read:This Billionaire Made Bank, Boasts A 30% Return Despite 2022’s Market Crash

CVR Energy Inc. CVI is offering a dividend yield of 3.10% or $1.20 per share annually, through quarterly payments, with a track record of increasing its dividends once in the past year. CVR Energy engages in petroleum refining and nitrogen fertilizer manufacturing through its holdings in CVR Refining LP and CVR Partners LP.

Icahn acquired 71.2 million shares of CVR Energy between 2011 and 2012 and has never sold any shares. CVR Energy is his second most owned position, accounting for 11% of the total portfolio. Icahn owns over 70% of CVRs shares outstanding.

Crown Holdings Inc. CCK is offering a dividend yield of 1.10% or 88 cents per share annually, through quarterly payments, with a track record of increasing its dividends once in the past year. Crown Holdings is a leader in metal packaging technology, with operations in 40 countries employing over 26,000 people, with net sales of $11.4 billionas of 2021.

During the third quarter, Icahn initiated a stake in Crown Holdings, purchasing 1.04 million shares.

Photo: Courtesy of shutterstock.com

Source: Benzinga

Benzinga

Benzinga

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