Mesabi Trust (MSB) to Issue Quarterly Dividend of $0.26 on February 20th

Mesabi Trust (NYSE:MSB) declared a quarterly dividend on Friday, January 16th. Shareholders of record on Friday, January 30th will be given a dividend of 0.26 per share by the mining company on Friday, February 20th. This represents a c) dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Friday, January 30th.

Mesabi Trust has raised its dividend by an average of 0.2%annually over the last three years.

Mesabi Trust Stock Down 1.3%

Shares of MSB traded down $0.44 during midday trading on Wednesday, reaching $33.70. The company had a trading volume of 16,542 shares, compared to its average volume of 64,814. Mesabi Trust has a 1-year low of $22.55 and a 1-year high of $42.38. The firm has a 50 day simple moving average of $35.92 and a 200-day simple moving average of $32.96. The stock has a market cap of $442.14 million, a PE ratio of 25.66 and a beta of 0.57.

Mesabi Trust (NYSE:MSB) last announced its quarterly earnings data on Friday, December 12th. The mining company reported $0.21 earnings per share (EPS) for the quarter. Mesabi Trust had a net margin of 82.80% and a return on equity of 79.30%. The firm had revenue of $3.39 million during the quarter.

About Mesabi Trust

Mesabi Trust (NYSE: MSB) is a passive royalty trust that holds royalty interests in iron ore properties located on Minnesota’s Mesabi Iron Range. The trust does not engage in mining operations directly but receives royalty payments based on the volume of iron ore shipped from the underlying properties. These payments are derived from production of iron ore concentrate and taconite pellets sold to domestic and international steel producers.

Established in December 2011, Mesabi Trust was formed through the consolidation of royalty interests contributed by several mining companies.