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Strategies & Market Trends : Dividend Investing

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To: Investor2 who wrote (60)	8/3/1999 11:17:00 PM
From: Paul Senior	Read Replies (1) of 387

Hi I2: I don't follow utilities, and so I don't understand the implications for stockholders of the merger of the two you mentioned. Dividend on CSR is just under 8% (pre-merger)-- is this normal or sustainable? I've started a very small position in Cleveland-Cliffs. Now about 30-31, CLF often in past years has traded at its book value (now 39) or better. There's about a 4.8% dividend yield. HOWEVER, CLF has just announced that they are shutting down 3 of their mines. (They supply iron ore pellets to the steel industry.) Which means bad times ahead. Much lower sales, lower earnings, possible dividend cut. Sooo.. I find myself in the paradoxical position of buying the stock but yet suggesting that other dividend investors might be better off passing on this one. JMO. regards, Paul

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