Cliffs Natural Resources Keeps Dividend Steady
Mining giant Cliffs Natural Resources announced yesterday its third-quarter dividend of $0.15 per share, the same rate it's paid for the past two quarters after slashing the payout 76% from $0.625 per share.
The board of directors said the quarterly dividend is payable on Sept. 3 to the holders of record at the close of business on Aug. 15. The miner has made quarterly payouts to investors since 1972. The company also announced yesterday that CEO Joseph Carrabba will be stepping down.
The regular dividend payment equates to a $0.60-per-share annual dividend, yielding 3.7% based on the closing price of Cliffs Natural Resources stock on July 9.
The article Cliffs Natural Resources Keeps Dividend Steady originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. 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.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.