Carl Icahn's main investment vehicle, Icahn Enterprises $IEP, has a 15% Dividend yield. Is it safe? Or is it fake? Icahn Enterprises is incorporated as a Master Limited Partnership, where the limited partners own units instead of shares in the company. Therefore, if you invest in the company, you have fewer rights than a common shareholder. It is advantageous for the company to be an MLP because they don't have to pay federal taxes. But the responsibility to pay taxes comes to the unitholders. And depending on the state, the 15% dividend yield will be less.