ArcelorMittal S.A. (NYSE:MT) Announces Dividend Increase – $0.28 Per Share

ArcelorMittal S.A. (NYSE:MT) announced a semi-annual dividend on Monday, March 17th, Wall Street Journal reports. Investors of record on Thursday, November 13th will be given a dividend of 0.275 per share by the basic materials company on Wednesday, December 3rd. This represents a yield of 1.5%. The ex-dividend date is Wednesday, November 12th. This is a 29.1% increase from ArcelorMittal’s previous semi-annual dividend of $0.21.

ArcelorMittal has raised its dividend by an average of 18.6% per year over the last three years. ArcelorMittal has a dividend payout ratio of 9.9% meaning its dividend is sufficiently covered by earnings. Research 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 Trading Down 0.6 %

NYSE:MT opened at $32.04 on Tuesday. ArcelorMittal has a twelve month low of $20.52 and a twelve month high of $34.90. The company has a quick ratio of 0.59, a current ratio of 1.35 and a debt-to-equity ratio of 0.17. The business has a 50 day moving average price of $27.01 and a two-hundred day moving average price of $25.23. The company has a market cap of $26.25 billion, a P/E ratio of 19.42, a price-to-earnings-growth ratio of 0.14 and a beta of 1.79.

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 analysts’ consensus estimates of $0.61 by ($0.09). ArcelorMittal had a return on equity of 4.31% and a net margin of 2.14%. As a group, analysts expect that ArcelorMittal will post 3.72 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley downgraded ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, ArcelorMittal has an average rating of “Moderate Buy” and an average 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.