Unitholders can opt for cash or additional units for the distribution for the quarter ending on 31 March, the firm said in a statement on Thursday. 

Icahn Enterprises didn’t specify whether this was its typical quarterly dividend, although it has paid out a quarterly dividend of $2 since 2019, according to data compiled by Bloomberg.

The move comes two days after Carl Icahn, who’s made a career out of starting corporate brawls, found himself on the receiving end of criticism when Hindenburg disclosed a short call against his investment firm. 

“We would like to reassure our long-term unitholders that the market disruption caused by the self-serving Hindenburg report does not affect IEP’s liquidity,” Icahn said in a statement. 

Icahn Enterprises gained as much as 11% in post market trading on Thursday after falling more than 40% in the three sessions since the release of the Hindenburg report.

A representative for Hindenburg didn’t respond to a request for comment. 

Hindenburg, whose founder, Nathan Anderson, made a name for the firm by targeting corporate giants like payments company Block Inc and Adani, has claimed Icahn Enterprises’ value is inflated by 75% or more, noting that it trades at a premium of more than 200% to its net asset value.

“We obviously disagree with the inflammatory assertions in the Hindenburg report and intend to respond at length — and to vigorously defend IEP and its unitholders,” Icahn said. 

Icahn Enterprises is scheduled to report earnings on 10 May, according to data compiled by Bloomberg. BM/DM