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RIO - Ciner Resources Cuts The Distribution By 40% Where To Now?
Rio Tinto Plc
Ciner Resources LP's (CINR) Q1 results released on Friday evening (rarely a good omen) came with an unpleasant surprise for income investors: The distribution will be cut by 40%. The reason for the cut was not operating performance, but rather the preparation for a major expansion project that would increase production capacity by up to 30%.
The cut will probably result in a sell-off on Monday; however, before jumping ship, there are a number of things that investors should consider. We will review them in this article.