Mesabi Trust (NYSE:MSB) to Issue Dividend Increase – $0.46 Per Share

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Mesabi Trust (NYSE:MSB) announced a quarterly dividend on Wednesday, January 13th, Wall Street Journal reports. Shareholders of record on Saturday, January 30th will be given a dividend of 0.46 per share by the mining company on Monday, February 22nd. This represents a $1.84 dividend on an annualized basis and a yield of 6.67%. The ex-dividend date is Thursday, January 28th. This is a boost from Mesabi Trust’s previous quarterly dividend of $0.36.

Mesabi Trust has increased its dividend payment by 12.1% over the last three years and has increased its dividend every year for the last 1 years.

Shares of MSB stock traded down $0.66 on Wednesday, reaching $27.60. 56,603 shares of the company were exchanged, compared to its average volume of 51,800. The company has a market cap of $362.11 million, a price-to-earnings ratio of 20.04 and a beta of 1.18. The company has a 50-day moving average of $27.08 and a 200-day moving average of $21.89. Mesabi Trust has a one year low of $9.76 and a one year high of $29.80.

Separately, BidaskClub downgraded Mesabi Trust from a “buy” rating to a “hold” rating in a research note on Saturday.

Mesabi Trust Company Profile

Mesabi Trust, a royalty trust, engages in the iron ore mining business in the United States. The company was founded in 1961 and is based in New York, New York.

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Dividend History for Mesabi Trust (NYSE:MSB)

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