ArcelorMittal S.A. (NYSE:MT) Announces $0.28 Semi-annual Dividend

ArcelorMittal S.A. (NYSE:MT) declared a semi-annual dividend on Tuesday, March 18th, Wall Street Journal reports. Investors of record on Thursday, November 13th will be paid a dividend of 0.275 per share by the basic materials company on Wednesday, December 3rd. This represents a dividend yield of 1.5%. The ex-dividend date is Wednesday, November 12th.

ArcelorMittal has increased its dividend payment by an average of 18.6% annually over the last three years. ArcelorMittal has a payout ratio of 9.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect ArcelorMittal to earn $5.14 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 9.7%.

ArcelorMittal Stock Up 1.7 %

Shares of NYSE:MT opened at $33.07 on Thursday. ArcelorMittal has a 12-month low of $20.52 and a 12-month high of $34.90. The stock has a fifty day simple moving average of $27.44 and a two-hundred day simple moving average of $25.35. The stock has a market capitalization of $27.10 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 0.14 and a beta of 1.79. The company has a current ratio of 1.35, a quick ratio of 0.59 and a debt-to-equity ratio of 0.17.

ArcelorMittal (NYSE:MT) last released its quarterly earnings results on Thursday, February 6th. The basic materials company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.09). ArcelorMittal had a net margin of 2.14% and a return on equity of 4.31%. On average, research analysts anticipate that ArcelorMittal will post 3.72 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Morgan Stanley cut ArcelorMittal from an “overweight” rating to an “equal weight” rating in a report on Friday, February 14th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $31.17.

About ArcelorMittal

ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in the United States, Europe, and internationally. It offers semi-finished flat products, including slabs; finished flat products comprising plates, hot- and cold-rolled coils and sheets, hot-dipped and electro-galvanized coils and sheets, tinplate, and color coated coils and sheets; semi-finished long products, such as blooms and billets; finished long products consisting of bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.