Cleveland-Cliffs Initiates Dividend, Expect More Upside [Seeking Alpha]
Cleveland-Cliffs Inc. (CLF)
Last cleveland-cliffs inc. earnings: 2/20 07:00 am
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US:NYSE Investor Relations:
clevelandcliffs.com/investors/overview/default.aspx
Company Research
Source: Seeking Alpha
Summary Cleveland-Cliffs reports Q3 results mostly in line with analysts' estimates. More importantly, the company initiates a dividend, a move that will open the stock to a new class of potential buyers. The company's financial strength, the health of the market, the dividend, and the still-reasonable valuation will provide further upside. Cleveland-Cliffs ( CLF ) has just reported its third-quarter results, showing earnings from continuing operations of $0.64 per share on revenue of $742 million. The most important news this time are not the earnings numbers - the company has decided to reinstall the dividend. The new dividend will be $0.20 per share on an annualized basis, or $0.05 per quarter. The news is huge for the stock. The dividend shows the company's confidence in its cash flows and, more importantly, opens the stock to investors who need a dividend as a prerequisite to consider taking a position in the company's shares. The dividend will bring a new wave
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CLF
News
- Why Cleveland-Cliffs Plunged on Tuesday [Yahoo! Finance]Yahoo! Finance
- Cleveland-Cliffs shares fall after Q1 earnings miss estimates [Seeking Alpha]Seeking Alpha
- Cleveland-Cliffs (CLF) Q1 Earnings and Revenues Miss Estimates [Yahoo! Finance]Yahoo! Finance
- Energy secretary visits to reassure Butler Cleveland-Cliffs employees their jobs are safe [CBS News]CBS News
- Cleveland-Cliffs Reports First-Quarter 2024 Results and Announces New $1.5 Billion Share Repurchase Program [Yahoo! Finance]Yahoo! Finance
CLF
Earnings
- 4/22/24 - Miss
CLF
Sec Filings
- 4/22/24 - Form 8-K
- 4/5/24 - Form 8-K
- 4/3/24 - Form 4
- CLF's page on the SEC website