UPDATE: Cliffs Natural Posts Q4 Loss, Lowers Dividend

Cliffs Natural Resources

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.