CVR Energy suspends quarterly dividend for Q3

“CVR Energy’s (CVI) 2024 third quarter earnings results for its refining business were impacted by reduced refining throughputs attributable to unplanned downtime at both facilities partially caused by external power supply outages during the quarter,” said Dave Lamp, CVR Energy’s CEO. “The board’s decision to suspend the quarterly dividend reflects its concerns on just how long the current margin environment will persist in light of the company’s large, planned turnaround at its Coffeyville refinery in the first quarter of 2025.”