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

ArcelorMittal (NYSE:MT) declared a quarterly dividend on Friday, February 13th. Shareholders of record on Friday, August 7th will be paid a dividend of 0.15 per share by the basic materials company on Wednesday, September 9th. This represents a c) dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Friday, August 7th.

ArcelorMittal has a dividend payout ratio of 10.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect ArcelorMittal to earn $7.10 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 Performance

Shares of MT stock opened at $75.21 on Wednesday. ArcelorMittal has a 1 year low of $30.75 and a 1 year high of $75.43. The stock has a market cap of $58.29 billion, a PE ratio of 31.87, a P/E/G ratio of 0.55 and a beta of 1.53. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.57 and a current ratio of 1.43. The stock has a fifty day moving average price of $66.28 and a 200 day moving average price of $61.07.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Jefferies Financial Group reissued a “buy” rating on shares of ArcelorMittal in a research note on Monday, July 6th. Santander downgraded shares of ArcelorMittal from an “outperform” rating to a “neutral” rating in a research report on Tuesday, April 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of ArcelorMittal in a research report on Friday. Citigroup restated a “buy” rating on shares of ArcelorMittal in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $75.00 price target on shares of ArcelorMittal in a report on Friday. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, ArcelorMittal currently has a consensus rating of “Moderate Buy” and an average price target of $72.40.

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.