Two months ago, CVR Energy (CVI) increased its high yield dividend by nearly 7%. The move got my attention as most high yield energy companies are struggling to maintain their dividends, let alone raising them. CVR’s dividend hike is the second in two years and if sustainable, the stock could provide both value and income for investors.
CVR Energy is a holding company that conducts two different types of activities. The first is the refining of petroleum through its wholly owned subsidiary CVR Refining. The other subsidiary is a nitrogen fertilizer company, CVR