Carl Icahn's top dividend stocks (September 2025) include Icahn Enterprises L P (IEP), his own diversified holding company engaged in a variety of industries.

Carl Icahn is an American financier and the founder of Icahn Enterprises, a publicly traded conglomerate. He is widely known for his role as an activist investor, taking sizable positions in public companies and seeking to influence corporate governance and management decisions to increase shareholder value.

Icahn Enterprises L P (IEP)

As Carl Icahn's flagship investment vehicle, Icahn Enterprises is a diversified holding company with operations spanning investment, energy, automotive, food packaging, real estate, and more. The company serves as the primary platform for Icahn's activist investing strategies. Icahn's position in the company is currently valued at $4.19 billion. It offers a substantial dividend yield of 23.61%, with a trailing twelve-month dividend rate of $2.00 per share, and a discounted cash flow analysis suggests a value of $11.82.

Here's an overview of Carl Icahn's trades in Icahn Enterprises L P:

CVR Partners LP (UAN)

CVR Partners is a manufacturer and provider of nitrogen fertilizer products, which are crucial for the agricultural sector. The company primarily produces ammonia and urea ammonium nitrate (UAN) fertilizers for farmers in North America. The activist investor's stake in this fertilizer manufacturer is valued at $373.66 million. With a trailing dividend rate of $9.09, the stock provides a current yield of 10.13%, and the company has a discounted cash flow value of $171.18.

Here's an overview of Carl Icahn's trades in CVR Partners LP:

American Electric Power Company Inc. (AEP)

American Electric Power is one of the largest electric utilities in the United States, serving millions of customers across 11 states. The company generates, transmits, and distributes electricity from a diverse portfolio of fuel sources, including coal, natural gas, nuclear, and renewables. This utility giant has a dividend yield of 3.35% and a trailing twelve-month dividend rate of $3.72. The current value of Icahn's position in AEP stands at $133.81 million, while analysts have set a price target of $115.50 for the stock. Its discounted cash flow value is estimated at $122.19.

Here's an overview of Carl Icahn's trades in American Electric Power Company Inc.:

Southwest Gas Holdings Inc (SWX)

Southwest Gas Holdings provides essential natural gas services to customers in parts of Arizona, Nevada, and California. Beyond its regulated utility operations, the company also offers utility infrastructure services across North America. Icahn holds a significant position in the natural gas utility valued at $601.7 million. The company pays a trailing twelve-month dividend of $2.48 per share, translating to a current yield of 3.10%, and based on a discounted cash flow model, the stock has a value of -$29.66.

Here's an overview of Carl Icahn's trades in Southwest Gas Holdings Inc:

Sandridge Energy Inc (SD)

Sandridge Energy is an independent oil and natural gas company focused on the exploration, development, and production of resources. Its principal operations are concentrated in the Mid-Continent region of the United States. The firm's trailing dividend rate is $0.33, which gives it a current dividend yield of 2.79%. Carl Icahn's investment in the energy company is worth $57.05 million, and a discounted cash flow calculation places the company's value at $33.32.

Here's an overview of Carl Icahn's trades in Sandridge Energy Inc: