Cliffs Natural gaps down after dividend cut, share offering, levels to watch The shares are down over 18.8% at time of writing following a major dividend cut to 15 cents per share versus the prior 62 cents per share. The company also filed to sell 9 million shares of common stock. Deutsche Bank, Citigroup, and Macquarie all downgraded the name on these actions. At the current price of $29.83, next support is at $29.16. Resistance is at $30.65.