It is equivalent to approximately 43.75c per depository share, each representing 0.025 of a share of series A preferred stock.
The cash dividend will be payable on November 3 to shareholders of record as of the close of business on October 15.
Cliffs, listed on the New York Stock Exchange, owns and operates six metallurgical coal mines in West Virginia and Alabama and one thermal coal mine in West Virginia, which have a rated capacity of 9.4 million short tons annually.
The company also has Asia Pacific iron, eastern Canadian iron ore and US iron ore projects.
