Mesabi Trust (NYSE:MSB) Announces $0.26 Quarterly Dividend

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) annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, January 30th.

Mesabi Trust has increased its dividend by an average of 0.2%per year over the last three years.

Mesabi Trust Stock Performance

NYSE MSB opened at $34.92 on Wednesday. The stock has a market capitalization of $458.08 million, a P/E ratio of 26.09 and a beta of 0.57. Mesabi Trust has a 52 week low of $22.55 and a 52 week high of $42.38. The stock has a fifty day moving average of $35.92 and a 200-day moving average of $32.96.

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

Mesabi Trust Company Profile

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.