ArcelorMittal to Issue Quarterly Dividend of $0.15 (NYSE:MT)

Key Points

• ArcelorMittal declared a quarterly dividend of $0.15 per share, with the ex-dividend date and record date both set for May 13 and payment scheduled for June 10.
• The dividend implies an annualized payout of about $0.51 per share and a 1.0% yield, with the company’s payout ratio at 10.3%, suggesting the dividend is well covered by earnings.
• The company recently beat quarterly EPS estimates at $0.75 versus $0.72 expected, though revenue came in below forecasts; Wall Street’s consensus rating remains Hold with a price target of $61.07.

ArcelorMittal (NYSE:MT - Get Free Report) declared a quarterly dividend on Friday, February 13th. Investors of record on Wednesday, May 13th will be paid a dividend of 0.15 per share by the basic materials company on Wednesday, June 10th. This represents a c) dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, May 13th.

ArcelorMittal has a dividend payout ratio of 10.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect ArcelorMittal to earn $7.09 per share next year, which means the company should continue to be able to cover its $0.51 annual dividend with an expected future payout ratio of 7.2%.

ArcelorMittal Stock Down 0.0%

Shares of MT opened at $62.03 on Monday. ArcelorMittal has a 52 week low of $29.62 and a 52 week high of $67.60. The firm has a market cap of $48.07 billion, a P/E ratio of 16.28, a price-to-earnings-growth ratio of 0.50 and a beta of 1.48. The firm's 50-day simple moving average is $57.03 and its 200 day simple moving average is $50.88. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.54 and a current ratio of 1.39.

ArcelorMittal (NYSE:MT - Get Free Report) last announced its earnings results on Thursday, April 30th. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.03. ArcelorMittal had a net margin of 4.71% and a return on equity of 4.77%. The firm had revenue of $15.46 billion for the quarter, compared to analyst estimates of $17.04 billion. During the same quarter in the prior year, the business posted $1.05 EPS. The business's revenue was up 4.5% compared to the same quarter last year. On average, analysts forecast that ArcelorMittal will post 4.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. downgraded shares of ArcelorMittal from an "overweight" rating to an "underweight" rating in a research note on Monday, March 9th. Morgan Stanley reissued an "overweight" rating on shares of ArcelorMittal in a research note on Tuesday, February 17th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of ArcelorMittal in a research note on Friday, February 6th. KeyCorp assumed coverage on shares of ArcelorMittal in a research note on Wednesday, March 25th. They issued a "sector weight" rating for the company. Finally, Citigroup reissued a "buy" rating on shares of ArcelorMittal in a research note on Friday, February 13th. Six analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, ArcelorMittal presently has a consensus rating of "Hold" and a consensus price target of $61.07.

ArcelorMittal Company Profile

ArcelorMittal is a multinational steel manufacturing company formed in 2006 through the merger of Arcelor and Mittal Steel. Headquartered in Luxembourg, the company is one of the world's largest producers of steel and operates an integrated value chain that spans raw material extraction, steelmaking, processing and distribution. Its product portfolio includes flat and long carbon steel products, coated and specialty steels, tubular products and value-added solutions tailored for sectors such as automotive, construction, household appliances, energy and packaging.

ArcelorMittal's operations are global in scope, with production facilities, distribution networks and commercial activities across Europe, the Americas, Asia, Africa and the Commonwealth of Independent States.

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