Mesabi Trust (NYSE:MSB) Plans Dividend Increase – $0.30 Per Share

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 paid 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 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% annually over the last three years.

Mesabi Trust Stock Performance

NYSE:MSB opened at $17.70 on Friday. The company’s 50-day simple moving average is $17.46 and its 200-day simple moving average is $18.00. Mesabi Trust has a fifty-two week low of $16.08 and a fifty-two week high of $22.39.

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded 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.