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

ArcelorMittal S.A. (NYSE:MT) declared a semi-annual dividend on Tuesday, March 18th, Wall Street Journal reports. Stockholders 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 dividend yield of 1.5%. The ex-dividend date of this dividend is Wednesday, November 12th.

ArcelorMittal has increased its dividend by an average of 18.6% per year over the last three years. ArcelorMittal has a dividend 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 Trading Up 1.4 %

MT opened at $32.50 on Wednesday. The stock has a market cap of $26.63 billion, a price-to-earnings ratio of 19.70, a P/E/G ratio of 0.14 and a beta of 1.79. The stock’s 50 day moving average price is $27.22 and its 200-day moving average price is $25.30. ArcelorMittal has a one year low of $20.52 and a one year high of $34.90. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 1.35.

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

Analysts Set New Price Targets

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 issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average 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.