2 High-Yielding Stocks That Carl Icahn's One-Time Right-Hand Man Holds — And You Can, Too

Zinger Key Points
  • MDU Resources' construction services business has all-time record quarterly revenues, up 30% from the second quarter of 2021.
  • Ardagh Metal Packaging offers a dividend yield of 8.46% or 40 cents per share annually, making quarterly payments.

Corvex Management was founded in 2011 by Carl Icahn’s former right-hand man Keith Meister, and saw its assets double by 2013. Activist investor Meister used Icahn’s philosophy of being contrarian and aggressive and he received $1 billion in seed capital from George Soros.

Corvex Management currently has $2.9 billion in assets under management, down from its peak in mid-2015 of approximately $9 billion. Additionally, Meister became the largest shareholder in Yum! Brands, Inc. YUM in 2015, looking for a seat on the board and to make operational changes, such as selling KFC Eleven and Super Chix.

Read more about two high-yielding stocks Corvex Management holds.

MDU Resources Group Inc. MDU offers a dividend yield of 3.11% or 87 cents per share annually, using quarterly payments, with a superb track record of increasing its dividends for 17 consecutive years.

MDU Resources operates under four segments, including electric services, electric and natural gas utilities, pipelines, and construction materials to deliver strong infrastructure in the heart of the U.S. economy.

The construction services business had all-time record quarterly revenues, up 30% from the second quarter of 2021, and a record second-quarter earnings of $34.5 million, compared to $28.9 million in the second quarter of 2021.

“With our combined construction backlog of work up 37% to an all-time record of $3.1 billion, we expect to recover some momentum in the third quarter as our record level of more than 16,500 skilled employees continues building a strong America," said David L. Goodin, president and CEO of MDU Resources.

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Ardagh Metal Packaging SA AMBP offers a dividend yield of 8.46% or 40 cents per share annually, making quarterly payments, with an inconsistent track record of increasing its dividends.

Ardagh Metal Packaging is a global supplier of infinitely recyclable, sustainable, metal beverage cans and ends to brand owners, deriving most of its revenue from the Americas.

A $200 million share buyback program was authorized in June and in operation through the end of 2023, with $3 million repurchased in the second quarter and approaching $15 million to date.

Revenue of $1.3 billion in the three months ended June 30, 2022, increased by $312 million, or 31%, compared with $991 million in the same period last year.

Photo: Martin Cathrae From Flickr 

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