More on Cliffs Natural Resources' (CLF) Q4 results: Cut its dividend by 76%, to $0.15/share from...


More on Cliffs Natural Resources' (CLF) Q4 results: Cut its dividend by 76%, to $0.15/share from $0.625. Full-year 2012 revenues of $5.9B fell 11% Y/Y due to lower seaborne pricing. Increased its 2013 capex budget to $800M-$850M from previous expectation of $700M-$800M due to additional investments in its eastern Canadian iron ore business. Shares -4.4% AH.

From other sites
Comments (2)
  • wigit5
    , contributor
    Comments (4365) | Send Message
     
    wow that dividend didn't make it very long... glad I didn't buy
    12 Feb 2013, 04:39 PM Reply Like
  • Chris Lau
    , contributor
    Comments (3965) | Send Message
     
    I've said this frequently in my coverage of (CLF) - it had to cut dividends. If it is cutting capex (the qtr before) it has to do this. Good long-term, but the company will lose FI investors.
    12 Feb 2013, 05:09 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs