Mesabi Trust (NYSE:MSB) announced a quarterly dividend on Monday, October 16th, Wall Street Journal reports. Stockholders of record on Monday, October 30th will be given a dividend of 0.64 per share by the mining company on Monday, November 20th. This represents a $2.56 annualized dividend and a dividend yield of 11.23%. The ex-dividend date of this dividend is Friday, October 27th. This is an increase from Mesabi Trust’s previous quarterly dividend of $0.16.

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

Mesabi Trust (NYSE:MSB) traded down 3.59% during midday trading on Monday, hitting $22.80. 192,398 shares of the stock traded hands. The company has a 50-day moving average price of $19.54 and a 200-day moving average price of $15.55. Mesabi Trust has a 1-year low of $8.05 and a 1-year high of $24.80. The firm has a market cap of $299.14 million, a P/E ratio of 12.41 and a beta of 0.40.

Mesabi Trust (NYSE:MSB) last posted its quarterly earnings results on Thursday, September 7th. The mining company reported $1.00 EPS for the quarter. The business had revenue of $13.36 million during the quarter. Mesabi Trust had a net margin of 95.87% and a return on equity of 232.11%. Analysts predict that Mesabi Trust will post ($20.29) EPS for the current year.

Separately, TheStreet cut shares of Mesabi Trust from a “b-” rating to a “c+” rating in a research note on Monday, August 7th.

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About Mesabi Trust

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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