ArcelorMittal S.A. (NYSE:MT) Raises Dividend to $0.28 Per Share

ArcelorMittal S.A. (NYSE:MT) announced a semi-annual dividend on Monday, March 17th, 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 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 payout ratio of 9.9% indicating that 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 %

NYSE MT traded down $0.21 on Monday, reaching $32.01. The company had a trading volume of 1,201,628 shares, compared to its average volume of 1,784,316. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 0.59. ArcelorMittal has a 1 year low of $20.52 and a 1 year high of $34.90. The firm has a 50-day moving average of $26.81 and a 200-day moving average of $25.17. The firm has a market capitalization of $26.23 billion, a PE ratio of 19.40, a P/E/G ratio of 0.14 and a beta of 1.79.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings data 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 net margin of 2.14% and a return on equity of 4.31%. On average, equities research analysts anticipate that ArcelorMittal will post 3.72 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Morgan Stanley downgraded ArcelorMittal from an “overweight” rating to an “equal weight” rating in a 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.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.17.

ArcelorMittal Company Profile

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.