If you look at the stock's history, you can see the stock took a hit to its price in October of 2024. This was after the stock suspended its dividend and reported unplanned down time at a refinery. Since that time the CVR energy has taken actions to correct the refinery in question and the market has become more favorable to the products in produces.
In addition, the potential for the small refinery exemption for the Wynnewood facility could have financially beneficial applications.
Obviously, CVR energy reinstating a dividend would be great for holders of IEP and it would provide additional support to IEP.
Whether or not this leads to IEP increasing it's dividend is questionable.
There are other things IEP could potentially do to further improve its balance sheet before increasing the dividend.
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