Mesabi Trust (NYSE:MSB) Announces 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 paid a dividend of 5.95 per share by the mining company on Thursday, February 20th. This represents a $23.80 dividend on an annualized basis and a dividend yield of 88.15%. The ex-dividend date of this dividend 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 Trading Up 1.0 %

Shares of MSB traded up $0.26 during mid-day trading on Wednesday, hitting $27.00. 85,992 shares of the company’s stock were exchanged, compared to its average volume of 40,310. The firm has a market capitalization of $354.24 million, a P/E ratio of 3.85 and a beta of 0.85. Mesabi Trust has a fifty-two week low of $15.93 and a fifty-two week high of $29.72. The business’s 50 day moving average is $27.07 and its two-hundred day moving average is $22.52.

Mesabi Trust (NYSE:MSB) last announced its earnings results on Friday, December 13th. The mining company reported $5.97 earnings per share for the quarter. Mesabi Trust had a return on equity of 83.21% and a net margin of 74.00%.

Analysts Set New Price Targets

Separately, StockNews.com raised Mesabi Trust from a “hold” rating to a “strong-buy” rating in a report 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.