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ArcelorMittal must cut debt, official tells shareholders

Luxembourg-based steel giant says better days for shareholders coming after debt reduced

Emery P. Dalesio
03.12.2019

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.

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