(Bloomberg) -- Icahn Enterprises LP, under pressure from short seller Hindenburg Research, said it would pay a dividend of $2.00 per unit to investors, sending shares higher by the most since 2008.

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

Icahn Enterprises didn’t specify whether this was its typical quarterly dividend, although it has paid out a quarterly dividend of $2.00 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 jumped 27% on Friday, marking its strongest single-day gain since October 2008. That rally pares a three-day rout after the Hindenburg report. The selloff had taken the stock down 40% through Thursday’s close.

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., 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 May 10, according to data compiled by Bloomberg. 

--With assistance from Matt Turner and Bre Bradham.

(Updates to market close.)

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