Mesabi Trust (NYSE:MSB) Declares Dividend Increase – $5.95 Per Share

Mesabi Trust (NYSE:MSB) declared a quarterly dividend on Tuesday, January 14th,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 boost 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 Stock Up 1.0 %

MSB opened at $27.00 on Thursday. Mesabi Trust has a fifty-two week low of $15.93 and a fifty-two week high of $29.72. The company has a fifty day moving average of $27.10 and a 200 day moving average of $22.55.

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

Analyst Ratings Changes

Separately, StockNews.com raised 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.