bwire

CLEVELAND (Business Wire) -- Cliffs Natural Resources Inc. (NYSE: CLF) (Paris: CLF) today
announced that its Board of Directors voted to increase the quarterly
cash dividend on the Company's common shares by 60% to $0.14 per share.
The increased cash dividend will be payable on June 1, 2010, to
shareholders of record as of the close of business on May 14, 2010.


Laurie Brlas, Cliffs' executive vice president and chief financial
officer, said, "Cliffs' outlook for cash flow generation has improved
substantially with the rebounding demand for steelmaking raw materials.
This provides the Company increased confidence to increase its cash
payouts to Cliffs' shareholders, while at the same time continuing to
pursue strategic objectives."


As previously announced on March 9, 2010, the Company's Board redeemed
the rights that had accompanied its common shares under its Shareholder
Rights Plan. The redemption price of $0.001 per right is being paid as
part of the common share dividend on June 1, 2010. Accordingly, $0.001
of the quarterly dividend of $0.14 per common share will be allocated to
pay the redemption price of the rights.