Cliffs Natural Resources Inc. Tuesday announced that its Board of Directors declared a quarterly cash dividend on the Company’s common shares of $0.15 per share. In a press release, the company said the cash dividend will be payable on June 3, 2013 , to shareholders of record as of the close of business on May 17, 2013 .
The media release continued saying, “Cliffs’ Board of Directors also declared a quarterly cash dividend on the Company’s 7.00% Series A Mandatory Convertible Preferred Stock, Class A (“Series A preferred stock”), of $17.50 per share, which is equivalent to approximately $0.44 per depositary share, each representing 1/40th of a share of Series A preferred stock. The cash dividend will be payable on Aug. 1, 2013 to shareholders of record as of the close of business on July 15 , 2013.”
According to the release, the following were elected as directors at Cliffs’ annual meeting of shareholders:
- Joseph A. Carrabba , Chairman, President and Chief Executive Officer of the Company
- Susan M. Cunningham , Senior Vice President of U.S. Gulf of Mexico , Africa and Frontier Region of Noble Energy Inc.
- Barry J. Eldridge , Former Managing Director and Chief Executive Officer of Portman Limited
- Andres R. Gluski , President and Chief Executive Officer of the AES Corporation
- Susan M. Green , Deputy General Counsel , U.S. Congressional Office of Compliance
- Janice K. Henry , Former Senior Vice President and Chief Financial Officer of Martin Marietta Materials, Inc.
- James F. Kirsch , Former Chairman, President and Chief Executive Officer of Ferro Corporation
- Francis R. McAllister , Chairman and Chief Executive Officer of Stillwater Mining Company
- Richard K. Riederer , Chief Executive Officer of RKR Asset Management
- Timothy W. Sullivan , Former President, Chief Executive Officer and Director of Bucyrus International Inc.
Shareholders also voted to:
- Approve on an advisory basis, of the Company’s named executive officer compensation; and
- Ratify the appointment of Deloitte & Touche LLP as Cliffs’ independent registered public accounting firm.
Shareholders did not approve:
- An amendment to Cliffs’ Second Amended Articles of Incorporation to adopt majority voting in uncontested director elections;
- An amendment to Cliffs’ Second Amended Articles of Incorporation to eliminate cumulative voting in director elections; nor
- An amendment to Cliffs’ Regulations to add a provision to allow the Board of Directors to amend the Regulations to the extent permitted under Ohio law.