Icahn Enterprises LP (IEP)

[leftovers]

Icahn Enterprises will likely maintain the current dividend, yielding 16% at current prices.

Despite distributing more than it earns, 95% of shares are owned by Carl Icahn, who elects to receive the distribution in new equity, minimizing cash outflows.

The cost of cutting dividends is more than the notional amount IEP distributes to public shareholders who own the remaining 5% of shares.

A significant portion of Icahn's portfolio is hedged, protecting assets in case the recent market rout continues.