Mesabi Trust (NYSE:MSB) announced a quarterly dividend on Monday, July 17th, Wall Street Journal reports. Investors of record on Sunday, July 30th will be given a dividend of 0.16 per share by the mining company on Sunday, August 20th. This represents a $0.64 annualized dividend and a yield of 4.59%. The ex-dividend date is Wednesday, July 26th.

Mesabi Trust has decreased its dividend by an average of 29.1% annually over the last three years and has increased its dividend annually for the last 3 consecutive years.

Mesabi Trust (NYSE MSB) traded up 1.08% during mid-day trading on Monday, reaching $14.10. The company had a trading volume of 47,636 shares. The stock has a market capitalization of $184.99 million, a P/E ratio of 13.80 and a beta of 0.35. The stock has a 50 day moving average price of $13.64 and a 200-day moving average price of $13.99. Mesabi Trust has a 12-month low of $8.05 and a 12-month high of $17.42.

Separately, TheStreet upgraded Mesabi Trust from a “c” rating to a “b” rating in a report on Monday, May 15th.

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Mesabi Trust Company Profile

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).

Dividend History for Mesabi Trust (NYSE:MSB)

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