What didn't the management team for Cliffs Natural Resources (CLF 5.58%) unleash upon shareholders and the market in its latest release? In addition to the previously noted $1.37 billion in non-cash charges, Cliffs decided to drastically cut its dividend by 76% and issue 9 million common shares (or 6% of current outstanding shares). These issues could be long-term positives, but current investors are obviously put off by these radical actions. Get a deeper perspective on these issues and the fourth quarter overall from Motley Fool analyst Taylor Muckerman below.
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Hey CLF Investors, Where'd Your Dividend Go?
NYSE: CLF
Cleveland-Cliffs

A 76% haircut to the dividend is obviously more than shareholders could stand, as evidenced by the near 19% drop in share price.
Joel South has no position in any stocks mentioned. Taylor Muckerman has no position in any stocks mentioned. The Motley Fool owns shares of ArcelorMittal. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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