ArcelorMittal’s shareholders will need to be patient for higher dividends that will not come until the world’s largest steelmaker sharply reduces its debt, including by selling off some units, a senior member of the Luxembourg-based company’s leadership team said.
ArcelorMittal's position deteriorated sharply this year as slowing economic growth crippled automakers and other clients that use a lot of steel. At the same time, prices for iron ore shot up. The one-two punch collapsed profit margins for the company’s steel operations.