BRUSSELS: ArcelorMittal, the world’s largest steelmaker, reported higher than expected fourth quarter earnings and said current chief financial officer Aditya Mittal would become chief executive, replacing his father and founder Lakshmi Mittal.
The Luxembourg-based company said on Thursday fourth-quarter core profit (EBITDA), the figure most watched by the market, was $1.73 million, almost double the year-ago figure and far higher than the average forecast in a company poll of $1.47 million.
The company said it would restart paying dividends to shareholders, with an initial $0.30 per share to be paid in June.
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