Mesabi Trust (NYSE:MSB) Raises Dividend to $5.95 Per Share

Mesabi Trust (NYSE:MSB) announced a quarterly dividend on Wednesday, January 15th,Wall Street Journal reports. Stockholders of record on Thursday, January 30th will be given a dividend of 5.95 per share by the mining company on Thursday, February 20th. This represents a $23.80 annualized dividend and a dividend yield of 88.15%. The ex-dividend date is Thursday, January 30th. This is a positive change from Mesabi Trust’s previous quarterly dividend of $0.39.

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

Mesabi Trust Price Performance

MSB traded up $0.26 during trading hours on Wednesday, reaching $27.00. The company’s stock had a trading volume of 80,620 shares, compared to its average volume of 39,104. The stock has a market cap of $354.24 million, a PE ratio of 3.85 and a beta of 0.85. Mesabi Trust has a fifty-two week low of $15.93 and a fifty-two week high of $29.72. The business’s 50-day moving average is $27.07 and its 200-day moving average is $22.52.

Mesabi Trust (NYSE:MSB) last announced its quarterly earnings results on Friday, December 13th. The mining company reported $5.97 EPS for the quarter. Mesabi Trust had a return on equity of 83.21% and a net margin of 74.00%.

Wall Street Analysts Forecast Growth

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

Mesabi Trust Company Profile

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.