Lakshmi Mittal makes £460million with steel company shares
Indian billionaire Lakshmi Mittal will get a dividend package of £460million this year from his stake in the world’s largest steel producer.
ArcelorMittal today announced its dividend payment schedule for 2008 as part of which it would make four quarterly payments of $0.375 per share in March, June, September and December.
The London-based tycoon, who holds 623.62million shares, would get $233.85million at each payout. The company would pay a total dividend of about $2.2billion.
The Mittal family, which also have a 20 per cent stake in Queen Park Rangers Football Club, is the promoter of the company with 43.04 per cent stake valued at about $39.1billion.
ArcelorMittal today said a gross dividend of $1.50 per share (paid on a quarterly basis) would be submitted to the shareholders’ approval at the next annual general meeting on May 13.
The quarterly payments of $0.375 per share will occur on March 17, June 16, September 15 and December 15, it added.
Nice little earner
Posted: January 22nd, 2008 under Steel News.
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