The Rising Influence of Rising Affluence

[DewDiligence]

CLF +7% today on the big dividend hike and management’s newfound dedication to enhancing “shareholder value” (#msg-73237761).

Translation: No new risky projects and acquisitions (such as the chromite development in Ontario) until CLF gets its existing plants running flawlessly and thereby maximizes operating cash flow. As a consequence of the above, the balance sheet will not become unduly leveraged.

I haven’t heard today’s CC yet, but it must have been a good one.