Cliffs Natural scraps quarterly dividend

Mon Jan 26, 2015 7:13am EST
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Jan 26 (Reuters) - Cliffs Natural Resources Inc said it would scrap its quarterly dividend of 15 cents per share from the first quarter.

The miner also said it reduced its net debt balance by more than $400 million in the fourth quarter and beginning of January 2015. (Reporting by Sneha Banerjee in Bengaluru; Editing by Don Sebastian)