UPDATE: Cliffs Natural Posts Q4 Loss, Lowers Dividend
Cliffs Natural Resources (NYSE: CLF) posted a loss in the fourth quarter.
Cliffs Natural posted a quarterly loss of $1.62 billion, or $11.36 per share, versus a year-earlier profit of $185 million, or $1.30 per share. Excluding one-time items, it earned $0.62 per share.
Its revenue declined to $1.54 billion from $1.6 billion. However, analysts expected earnings of $0.51 per share on revenue of $1.54 billion.
Cliffs Natural lowered its quarterly dividend by 76% to $0.15 per share from 62.5 cents per share.
Cliffs Natural shares fell 10.13% to $32.90 in after-hours trading.
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