When Carl Icahn buys shares of stock, it's what is known as the "Icahn lift." This refers to the impact that the so-called "corporate raider" has on purchasing shares of an underlying company.

Speaking to MarketWatch, Icahn took a bearish position and mentioned that equities will continue to decline, although pointing to CVR Energy (NYSE:CVI) as a stock to watch.

Icahn currently has a position in CVR Energy of more than 71 million shares, accounting for 11% of the portfolio.

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Here are two dividend stocks Icahn holds, as he thinks companies dealing in the oil-refining industry will continue to perform well.

• First Energy Corp. (NYSE:FE) offers a dividend yield of 4.02% or $1.56 per share annually, through quarterly payments, with an inconsistent track record of increasing its dividends. The Akron, Ohio-based company owns and operates one of the nation's largest electric transmission systems with 24,000 miles of lines. FirstEnergy CEO Steven E. Strah stated in the second quarter report that the company improved its balance sheet by utilizing the proceeds from "historic equity raises" to retire over $2.5 billion of debt and fund capital investment programs. "We now believe we are on the path to achieve solid investment grade credit metrics of approximately 13% Funds from Operations to Debt in 2023, one year ahead of schedule," he added.
• Southwest Gas Holdings Inc. (NYSE:SWX) offers a dividend yield of 3.31% or $2.48 per share annually, making quarterly payments, with a track record of increasing its dividends for three consecutive years. Southwest Gas Holdings is engaged in the business of purchasing, distributing, and transporting natural gas serving over 2 million customers in portions of California and Nevada, while being the largest distributor of natural gas in Arizona and Nevada. Also, the Las Vegas-based company expects a five-year utility rate base compound annual growth rate of 5% to 7% from 2022 to 2026. Southwest Gas has paid quarterly dividends continuously since going public in 1956.
• See Also: 2 High-Yielding Stocks That Carl Icahn's One-Time Right-Hand Man Holds — And You Can, Too

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