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

ArcelorMittal S.A. (NYSE:MT - Get Free Report) declared 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 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 payment by an average of 18.6% annually over the last three years. ArcelorMittal has a 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 Trading Down 1.5 %

MT traded down $0.47 during mid-day trading on Friday, hitting $31.54. 1,036,791 shares of the stock were exchanged, compared to its average volume of 1,782,193. The firm's fifty day moving average is $27.65 and its two-hundred day moving average is $25.40. 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 company has a market cap of $25.84 billion, a PE ratio of 19.12, a PEG ratio of 0.14 and a beta of 1.79.

ArcelorMittal (NYSE:MT - Get Free Report) last issued its quarterly earnings results 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 forecast that ArcelorMittal will post 3.72 earnings per share for the current fiscal year.

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Wall Street Analysts Forecast Growth

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 issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus 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.