(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.

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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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