Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 221

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 221
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 dividend to shareholders to $0.44/share. On May 2, 2023 at the annual general meeting of shareholders, the shareholders approved the Board’s proposed dividend of $0.44 per share. The dividend amounted to $369 million. In addition, on March 31, 2023, ArcelorMittal completed a share buyback program for a total amount of €1.4 billion ($1.5 billion) pursuant to an authorization given by the annual general meeting of

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shareholders on May 4, 2022. On May 5, 2023, the Company announced a new share buy back program of up to 85 million shares to be completed by May 2025 (subject to market conditions) under the authorization given by the annual general meeting of shareholders of May 2, 2023. In February 2024, the Board of Directors recommended an increase of the base annual dividend to $0.50/share which was approved o n April 30, 2024 at the annual general meeting of shareholders. The dividend amounted to $393 million. In addition, at December 31, 2024, ArcelorMittal had repurchased 78 million shares representing 92% of the current share buyback program for a total value of $2.0 billion. For further information on buybacks, see "Purchases of equity securities by the issuer and affiliated purchasers". On February 6, 2025, ArcelorMittal announced that the Board has proposed to increase the annual base dividend to shareholders to $0.55/share in 2025 and subject to the shareholders' approval at the 2025 annual general meeting of shareholders. Additional buybacks under the outstanding buyback program announced in May 2023 will be allocated to the 2025 capital return (with a minimum of 50% of post-dividend free cash flow as per the policy). Share buybacks will continue as per the Company's defined policy to return a minimum of 50% of post- dividend free cash flow to shareholders. Pension/OPEB liabilities The defined benefit liabilities for employee benefits decreased by $ 0.4 billion to $ 2.3 billion as of December 31, 2024, as compared to $2.7 billion as of December 31, 2023, mainly due to an increase in discount rates on pensions (mainly in Brazil). For additional information with respect to the Company’s pension plan and OPEB liabilities,