Cliffs Natural Resources: About That Dividend Cut…
January 26, 2015 at 14:02 PM EST
Wells Fargo’s Sam Dubinsky thinks Cliffs Natural Resources’ (CLF) decision to eliminate its dividend reinforces management’s credibility problem: Reuters The dividend cut was not a surprise to use given deteriorating market conditions and financial performance, but highlights recent credibility issues of new management. However, credibility remains an issue as the CEO stated he believed the dividend would [...]