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

Mesabi Trust (NYSE:MSB) announced a quarterly dividend on Friday, July 12th, Wall Street Journal reports. Investors 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 dividend on an annualized basis and a dividend yield of 6.78%. The ex-dividend date of this dividend is Tuesday, July 30th. This is a boost from Mesabi Trust’s previous quarterly dividend of $0.29.

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

Mesabi Trust Trading Down 0.6 %

NYSE: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 firm has a 50-day moving average price of $17.46 and a two-hundred day moving average price of $18.00.

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Mesabi Trust from a “hold” rating to a “buy” rating in a research note 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.