Mittal Pays Himself $478 Million !

[Ric-Roc]

Steel magnate Lakshmi Mittal today paid himself a $478 million (£296.5 million) dividend at ArcelorMittal, despite his steel-making empire sliding to a $780 million net loss in the last quarter of 2010.

The loss stemmed from higher raw materials prices and the cost of spinning off its stainless steel unit.

In 2010 as a whole, however, ArcelorMittal saw pre-tax profit hit $2.9 billion, far better than the $157 million made in the previous year when the recession caused a slump in steel demand.

Mittal owns 41% of ArcelorMittal, according to Bloomberg.

The dividend was paid out at 75 cents, leaving Britain's wealthiest man $478 million richer.

Any chance of a sub?

[LoftusRoadLad]

Let QPR have it....come on! ok half then ?

[Ric-Roc]

Just goes to show his commitment to QPR when he hasn't bought up shares or pumped in cash for transfers. Good to have him around I guess but leaves a wee sour taste reading stuff like that.

And before anyone says it yes I know its his money and not the clubs but why get involved if you are not going to splash the cash.

Hopefully come the Prem he will go crackers with the cheque book.

[RussRanger]

If he could lend me a set of steel cutlery, that would be good. It would save the Mrs having to eat everything with her hands...

Just because she's an ape, it's no excuse.

[Ric-Roc]

If he could lend me a set of steel cutlery, that would be good. It would save the Mrs having to eat everything with her hands...

Just because she's an ape, it's no excuse.

I agree mate. Mine keeps chewing her cage at night, doing my nut in when I'm trying to get to sleep on my new king size bed.