ArcelorMittal Plans Quarterly Dividend of $0.15 (NYSE:MT)

ArcelorMittal (NYSE:MT) announced 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) annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, August 7th.

ArcelorMittal has a payout ratio of 10.3% meaning its dividend is sufficiently covered by earnings. Equities 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 opened at $75.21 on Wednesday. The stock has a 50-day simple moving average of $66.28 and a 200-day simple moving average of $61.07. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.57 and a current ratio of 1.43. ArcelorMittal has a 1 year low of $30.75 and a 1 year high of $75.43. The stock has a market capitalization of $58.29 billion, a PE ratio of 31.87, a PEG ratio of 0.55 and a beta of 1.53.

Wall Street Analyst Weigh In

A number of research analysts recently commented on MT shares. Santander downgraded shares of ArcelorMittal from an “outperform” rating to a “neutral” rating in a research report on Tuesday, April 21st. Wells Fargo & Company raised their target price on ArcelorMittal from $62.00 to $69.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. Citigroup restated a “buy” rating on shares of ArcelorMittal in a report on Tuesday. Jefferies Financial Group reiterated a “buy” rating on shares of ArcelorMittal in a research report on Monday, July 6th. Finally, JPMorgan Chase & Co. raised shares of ArcelorMittal from an “underweight” rating to a “neutral” rating in a research note on Friday, July 10th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $72.40.

About ArcelorMittal

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.