ArcelorMittal (MT) Declares $0.22 Dividend

ArcelorMittal said on March 2, 2023 that its board of directors declared a regular annual dividend of $0.22 per share. Previously, the company paid $0.38 per share.

Shares must be purchased before the ex-div date of May 19, 2023 to qualify for the dividend. Shareholders of record as of May 22, 2023 will receive the payment on June 15, 2023.

At the current share price of $32.39 / share, the stock's dividend yield is 0.68%. Looking back five years and taking a sample every week, the average dividend yield has been 1.47%, the lowest has been 0.83%, and the highest has been 3.89%. The standard deviation of yields is 0.63 (n=237).

The current dividend yield is 1.24 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.03. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

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Analyst Price Forecast Suggests 8.42% Upside

As of March 5, 2023, the average one-year price target for ArcelorMittal is $35.12. The forecasts range from a low of $25.22 to a high of $44.85. The average price target represents an increase of 8.42% from its latest reported closing price of $32.39.

The projected annual revenue for ArcelorMittal is $62,894MM, a decrease of 21.23%. The projected annual non-GAAP EPS is $3.51.

What is the Fund Sentiment?

There are 532 funds or institutions reporting positions in ArcelorMittal. This is a decrease of 31 owner(s) or 5.51% in the last quarter. Average portfolio weight of all funds dedicated to MT is 0.22%, a decrease of 6.41%. Total shares owned by institutions decreased in the last three months by 3.90% to 97,770K shares. The put/call ratio of MT is 1.32, indicating a bearish outlook.

What are large shareholders doing?

GQG Partners holds 12,344K shares representing 1.53% ownership of the company. In it's prior filing, the firm reported owning 12,770K shares, representing a decrease of 3.46%. The firm decreased its portfolio allocation in MT by 99.88% over the last quarter.

VGTSX - Vanguard Total International Stock Index Fund Investor Shares holds 6,966K shares representing 0.87% ownership of the company. In it's prior filing, the firm reported owning 7,181K shares, representing a decrease of 3.07%. The firm decreased its portfolio allocation in MT by 2.47% over the last quarter.

GSIHX - Goldman Sachs GQG Partners International Opportunities Fund Shares holds 6,020K shares representing 0.75% ownership of the company. In it's prior filing, the firm reported owning 5,651K shares, representing an increase of 6.14%. The firm decreased its portfolio allocation in MT by 0.45% over the last quarter.

Arrowstreet Capital, Limited Partnership holds 4,312K shares representing 0.54% ownership of the company. In it's prior filing, the firm reported owning 337K shares, representing an increase of 92.19%. The firm increased its portfolio allocation in MT by 1,500.09% over the last quarter.

VTMGX - Vanguard Developed Markets Index Fund Admiral Shares holds 3,641K shares representing 0.45% ownership of the company. In it's prior filing, the firm reported owning 3,881K shares, representing a decrease of 6.59%. The firm increased its portfolio allocation in MT by 4.99% over the last quarter.

ArcelorMittal Background Information
(This description is provided by the company.)

ArcelorMittal S.A. is a Luxembourgian multinational steel manufacturing corporation headquartered in Luxembourg City. It was formed in 2006 from the takeover and merger of Arcelor by Indian-owned Mittal Steel.

This story originally appeared on Fintel.