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

ArcelorMittal S.A. (NYSE:MT) declared a semi-annual dividend on Monday, March 17th, 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 yield of 1.5%. The ex-dividend date of this dividend 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. Equities 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 Stock Performance

Shares of NYSE:MT opened at $32.04 on Tuesday. The stock has a market capitalization of $26.25 billion, a P/E ratio of 19.42, a P/E/G ratio of 0.14 and a beta of 1.79. ArcelorMittal has a 1-year low of $20.52 and a 1-year high of $34.90. The company has a current ratio of 1.35, a quick ratio of 0.59 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.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings data 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 return on equity of 4.31% and a net margin of 2.14%. Equities analysts predict that ArcelorMittal will post 3.72 earnings per share for the current year.

Wall Street Analyst Weigh In

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