Mesabi Trust (NYSE:MSB) to Issue $0.24 Quarterly Dividend

Key Points

• Mesabi Trust declared a quarterly dividend of $0.24 per share, payable May 20 to shareholders of record on April 30, which corresponds to a 2.9% yield.
• Mesabi Trust is a passive royalty trust that holds royalty interests in iron ore properties on Minnesota's Mesabi Iron Range and collects payments based on ore shipments rather than operating mines directly.
• Shares opened at $32.75 with a market cap of about $429.7 million, a P/E of 25, a 52-week range of $22.55–$42.38, and dividend growth averaging only 0.2% per year over the past three years.

Mesabi Trust (NYSE:MSB - Get Free Report) declared a quarterly dividend on Tuesday, April 14th. Shareholders of record on Thursday, April 30th will be given a dividend of 0.24 per share by the mining company on Wednesday, May 20th. This represents a c) annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Thursday, April 30th.

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

Mesabi Trust Trading Up 1.1%

MSB opened at $32.75 on Wednesday. The company's fifty day moving average price is $32.12 and its two-hundred day moving average price is $33.84. Mesabi Trust has a 1-year low of $22.55 and a 1-year high of $42.38. The company has a market cap of $429.71 million, a price-to-earnings ratio of 25.00 and a beta of 0.50.

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.

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