Mesabi Trust (MSB) to Issue $0.10 Quarterly Dividend
Mesabi Trust (NYSE:MSB) announced a quarterly dividend on Monday, October 17th. Investors of record on Sunday, October 30th will be given a dividend of 0.10 per share by the mining company on Sunday, November 20th. This represents a $0.40 annualized dividend and a yield of 4.37%. The ex-dividend date is Wednesday, October 26th.
Mesabi Trust (NYSE:MSB) traded down 7.16% during midday trading on Monday, reaching $9.20. 50,777 shares of the company traded hands. The company has a market capitalization of $120.70 million, a price-to-earnings ratio of 16.94 and a beta of 1.12. Mesabi Trust has a one year low of $3.00 and a one year high of $11.74. The stock’s 50 day moving average is $9.56 and its 200 day moving average is $9.41.
About Mesabi Trust
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Mesabi Trust is a royalty trust. The purpose of the Trust is to conserve and protect the Trust Estate. The Trust operates in the iron ore mining segment. The Trust derives income from the Peter Mitchell Mine, an iron mine located near Babbitt, Minnesota, at the eastern end of the Mesabi Iron Range. The lessee/operator of Mesabi Trust’s mineral interests is Northshore Mining Corporation (NMC), a subsidiary of Cliffs Natural Resources Inc (Cliffs).
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