Mesabi Trust (MSB) to Issue Quarterly Dividend of $0.30 on August 20th

Mesabi Trust (NYSE:MSB) declared a quarterly dividend on Friday, July 12th, Wall Street Journal reports. Shareholders of record on Tuesday, July 30th will be given a dividend of 0.30 per share by the mining company on Tuesday, August 20th. This represents a $1.20 annualized dividend and a yield of 6.78%. The ex-dividend date of this dividend is Tuesday, July 30th. This is an increase from Mesabi Trust’s previous quarterly dividend of $0.29.

Mesabi Trust has decreased its dividend by an average of 40.6% per year over the last three years.

Mesabi Trust Trading Down 0.6 %

Shares of MSB opened at $17.70 on Friday. Mesabi Trust has a 52-week low of $16.08 and a 52-week high of $22.39. The company has a 50-day simple moving average of $17.46 and a 200-day simple moving average of $18.00.

Mesabi Trust (NYSE:MSB) last issued its earnings results on Wednesday, April 24th. The mining company reported $0.36 earnings per share for the quarter. Mesabi Trust had a net margin of 78.65% and a return on equity of 101.61%. The company had revenue of $6.23 million for the quarter.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Mesabi Trust from a “hold” rating to a “buy” rating in a report on Friday, April 26th.

About Mesabi Trust

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