CVR Refining (CVRR) is an independent downstream energy limited partnership operating in the mid-continent region, formed by CVR Energy (CVI) in September 2012 to own the group's refining and logistics businesses. CVR Refining went public on January 23, 2013, with its common units being listed on the New York Stock Exchange at a price of $25 per unit. CVR Energy is still the company's largest unitholder, with a stake of 73%. CVR Refining's current market capitalization is about $4.1 billion and it offers a high-dividend yield of 22.7%, which is among the highest in the stock market. This means CVR Refining may be a huge opportunity for income-investors, or a dividend trap.
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