Mesabi Trust (NYSE:MSB) announced a quarterly dividend on Tuesday, January 14th, Zacks reports. Stockholders of record on Thursday, January 30th will be paid a dividend of 0.70 per share by the mining company on Thursday, February 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 12.57%. The ex-dividend date of this dividend is Wednesday, January 29th.
Mesabi Trust has raised its dividend payment by an average of 0.8% per year over the last three years and has raised its dividend every year for the last 5 years.
Shares of MSB opened at $22.27 on Thursday. The firm has a market capitalization of $309.63 million, a PE ratio of 9.75 and a beta of 0.75. Mesabi Trust has a 1-year low of $21.31 and a 1-year high of $32.39. The company’s fifty day moving average price is $23.49 and its 200-day moving average price is $24.45.
Mesabi Trust, a royalty trust, engages in iron ore mining business in the United States. The company was founded in 1919 and is based in New York, New York.
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