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

ArcelorMittal S.A. (NYSE:MT) announced a semi-annual dividend on Tuesday, March 18th, 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.

ArcelorMittal has increased its dividend by an average of 18.6% annually over the last three years. ArcelorMittal has a dividend payout ratio of 9.9% meaning its dividend is sufficiently covered by earnings. 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 Down 0.6 %

Shares of MT opened at $32.04 on Tuesday. ArcelorMittal has a 12 month low of $20.52 and a 12 month high of $34.90. The stock has a market cap of $26.25 billion, a price-to-earnings ratio of 19.42, a P/E/G ratio of 0.14 and a beta of 1.79. The company 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 quick ratio of 0.59, a current ratio of 1.35 and a debt-to-equity ratio of 0.17.

ArcelorMittal (NYSE:MT) last posted its earnings results on Thursday, February 6th. The basic materials company reported $0.52 EPS 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 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Morgan Stanley cut shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 14th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus 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.