DK - CVR Energy to invest in renewable diesel pay special dividend

CVR Energy (CVI) +7.2% post-market after saying it will focus on renewable fuels and is no longer interested in acquiring another crude oil refinery.CVR uneils plans to spend as much as $10M to advance its renewable diesel initiatives, including the completion of process design to convert an existing hydrotreater at the Coffeyville refinery to renewable diesel service, and the completion of process design and the ordering of long-lead equipment for a feed pretreater for the Wynnewood refinery to lower carbon intensity and feed cost.Also, the company's board has approved a $492M special dividend, to be payable in a combination of cash and shares of Delek US Holdings (DK).Delek US shareholders last week voted to approve all eight of its board nominees, rejecting three nominees proposed by Carl Icahn.

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CVR Energy to invest in renewable diesel, pay special dividend