CVR Energy (NYSE:CVI) 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.
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