ArcelorMittal Slips To Loss In Q4 On Weak Revenues; Lifts Dividend

(RTTNews) - Steel and mining major ArcelorMittal S.A. (MT) Thursday reported that its fourth-quarter net loss attributable to equity holders of the parent was $2.97 billion, compared to last year's profit of $261 million.

Basic loss per share was $3.57, compared to profit of $0.30 in the prior year.

Adjusted net income attributable to equity holders of the parent was $982 million or $1.18 per shre, compared to $1.19 billion or $1.37 per share a year ago.

EBITDA edged up to $1.266 billion from last year's $1.258 billion.

Sales for the quarter dropped to $14.55 billion from last year's $16.89 billion.

Total group iron ore production fell to 10 Mt from prior year's 10.7 Mt. Steel shipments, however, grew to 13.3 Mt from 12.6 Mt a year ago.

Further, the Board proposed to increase the annual base dividend to shareholders to $0.50 per share from last year's $0.44 per share, to be paid in 2 equal installments in June 2024 and December 2024.

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