Mesabi Trust (NYSE:MSB) Announces Quarterly Dividend of $5.95

Mesabi Trust (NYSE:MSB) declared a quarterly dividend on Tuesday, January 14th,Wall Street Journal reports. Shareholders of record on Thursday, January 30th will be paid a dividend of 5.95 per share by the mining company on Thursday, February 20th. This represents a $23.80 annualized dividend and a yield of 71.68%. The ex-dividend date of this dividend is Thursday, January 30th. This is an increase from Mesabi Trust’s previous quarterly dividend of $0.39.

Mesabi Trust has decreased its dividend by an average of 22.1% per year over the last three years.

Mesabi Trust Price Performance

Shares of MSB opened at $33.20 on Tuesday. The company has a market capitalization of $435.62 million, a price-to-earnings ratio of 4.74 and a beta of 0.85. The business has a 50-day moving average of $27.81 and a 200-day moving average of $23.31. Mesabi Trust has a 1 year low of $15.93 and a 1 year high of $33.89.

Mesabi Trust (NYSE:MSB) last issued its quarterly earnings results on Friday, December 13th. The mining company reported $5.97 EPS for the quarter. Mesabi Trust had a net margin of 93.80% and a return on equity of 231.09%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Mesabi Trust from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 16th.

About Mesabi Trust

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