Mesabi Trust (NYSE:MSB – Get Free Report) announced a quarterly dividend on Tuesday, April 14th. Investors of record on Thursday, April 30th will be paid a dividend of 0.24 per share by the mining company on Wednesday, May 20th. This represents a c) annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Thursday, April 30th.
Mesabi Trust has increased its dividend by an average of 0.2%annually over the last three years.
Mesabi Trust Price Performance
NYSE:MSB opened at $31.46 on Thursday. Mesabi Trust has a 12-month low of $22.55 and a 12-month high of $42.38. The firm has a market capitalization of $412.77 million, a P/E ratio of 24.02 and a beta of 0.50. The business has a 50 day simple moving average of $32.02 and a 200 day simple moving average of $33.83.
Mesabi Trust Company Profile
Mesabi Trust (NYSE: MSB) is a passive royalty trust that holds royalty interests in iron ore properties located on Minnesota’s Mesabi Iron Range. The trust does not engage in mining operations directly but receives royalty payments based on the volume of iron ore shipped from the underlying properties. These payments are derived from production of iron ore concentrate and taconite pellets sold to domestic and international steel producers.
Established in December 2011, Mesabi Trust was formed through the consolidation of royalty interests contributed by several mining companies.
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