Mesabi Trust (NYSE:MSB) Raises Dividend to $0.30 Per Share

Mesabi Trust (NYSE:MSB) announced 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% annually over the last three years.

Mesabi Trust Stock Performance

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 business has a 50 day moving average of $17.46 and a 200-day moving average of $18.00.

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

Wall Street Analysts Forecast Growth

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

Mesabi Trust Company Profile

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.