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5 Dividend Disappointments So Far in 2013

Exelon, Cliffs and others made significant cuts to their payouts

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Cliffs Natural Resources

cliffs natural resourcesDividend Change: -76%

It has been just a dismal half-year for Cliffs Natural Resources (CLF).

Not that Cliffs shares were having a rousing year to begin with, but they really fell off a … er, ledge … following the Feb. 13 announcement that it was slashing its payout and executing a secondary stock offering amid serious financial struggles that included a $1.6 billion loss in its fiscal fourth quarter. CLF stock has fallen 55% since then, and at -60% total for the past six months, it stands as the S&P 500’s loss leader for the first half.

Unless iron ore or coal prices go up dramatically in the next six months, don’t expect too much of a rebound for CLF, nor a significant uptick in its dividend.

Article printed from InvestorPlace Media,

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