Cleveland, OH

Cleveland Cliffs announces new $1.5B share repurchase program

Published

1 week ago

April 23, 2024

Cleveland Cliffs announces new $1.5B share repurchase program

CLEVELAND, OH. (WLUC) – Cleveland Cliffs will be repurchasing $1.5 billion of its common shares.

During its 2024 first-quarter results report on Tuesday, the company announced the new repurchase program. In the last quarter, Cliffs reported repurchasing 30.4 million common shares as part of its 2022 $1 billion share repurchase program.

Cliffs says share buybacks are now the number one capital allocation priority for the company.

“In the last couple of years, we have reduced our diluted share count by over 100 million shares, or 17%, realizing an average purchase price of $18.79 per share on open market purchases – significantly below what we are trading today,” said Celso L. Goncalves, Cleveland Cliffs executive vice president and CFO.

The company also reported revenues of $5.2 billion this quarter, compared to $5.1 billion in the fourth quarter of 2023.

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Related Topics:Cleveland cliffs Earnings Featured Report result share

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Cleveland, OH

Man found murdered outside Cleveland restaurant: Police

Published

3 hours ago

May 3, 2024

Press Room

Man found murdered outside Cleveland restaurant: Police

CLEVELAND, Ohio (WOIO) – The Cleveland Division of Police launched a murder investigation for a man found dead outside of a local restaurant Thursday, according to authorities.

The Cuyahoga County Medical Examiner’s Office says the 37-year-old man was found dead in the vicinity of BB’S Humble Kitchen, located at 17405 Harvard Ave.

The ME’s office identified the victim as Lashawn Roby.

The exact cause of death, along with the circumstances behind the murder, have not been specified.

19 News has reached out to the Cleveland Division of Police for more details.

This is a developing story. Return to 19 News for updates.

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Cleveland, OH

Cleveland firefighters battle blaze at storage unit facility

Published

10 hours ago

May 3, 2024

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Cleveland firefighters battle blaze at storage unit facility

CLEVELAND, Ohio (WOIO) – Firefighters battled a blaze at a storage unit facility Thursday morning.

UPDATE on Grayton/Brookpark. Fire cause was accidental. Someone working with a torch caught stored clothing on fire. Companies applying foam to smother deep seated fire in piles of contents. 14 total storage units involved. https://t.co/o0DpCrEOsS pic.twitter.com/wYs3FqXmmi
— ClevelandFire (@ClevelandFire) May 2, 2024

Crews were called out to the building at Grayton and Brookpark Roads just before 8 a.m.

Storage unit fire(Bingel, Julia | (Source: WOIO))

According to Cleveland firefighters, 14 units had caught on fire.

Cleveland Fire Lt. Mike Norman said someone working with a torch accidentally caught stored clothing on fire.

There were no injuries.

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Cleveland, OH

US Marshals arrest 20-year-old murder suspect in Cleveland

Published

17 hours ago

May 3, 2024

Press Room

US Marshals arrest 20-year-old murder suspect in Cleveland

CLEVELAND, Ohio (WOIO) – U.S. Marshals said a 20-year-old murder suspect was arrested Thursday after months on the run.

According to a news release, Kevin Wright was wanted by Cleveland police for aggravated murder.

Marshals said on Jan. 2, 2024, Tyrone Griffin, 17, died after he was hit by a car and then shot in the head.

The crash and shooting happened in the area of East 69th Street and Fleet Avenue in Cleveland’s Broadway-Slavic Village neighborhood.

Cleveland officers identified Wright as a suspect and a warrant was issued, according to the release.

Marshals on Thursday tracked Wright to East 164th Street in the Lee-Harvard neighborhood, and they arrested him after a short chase.

“For over two decades, the Northern Ohio Violent Fugitive Task Force and the Cleveland Division of Police have been working together to combat violent crime in the City of Cleveland by taking violent fugitives like this off the street.”

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