Mesabi Trust Declares Quarterly Dividend of $0.29 (NYSE:MSB)

Mesabi Trust (NYSE:MSB) declared a quarterly dividend on Tuesday, April 16th, Wall Street Journal reports. Shareholders of record on Tuesday, April 30th will be paid a dividend of 0.29 per share by the mining company on Monday, May 20th. This represents a $1.16 annualized dividend and a yield of 6.73%. The ex-dividend date is Monday, April 29th.

Mesabi Trust has decreased its dividend payment by an average of 40.6% annually over the last three years and has increased its dividend every year for the last 1 years.

Mesabi Trust Stock Down 0.1 %

NYSE:MSB traded down $0.02 during mid-day trading on Wednesday, reaching $17.24. 33,228 shares of the company were exchanged, compared to its average volume of 35,402. Mesabi Trust has a 12 month low of $16.68 and a 12 month high of $26.00. The company has a fifty day moving average of $18.01 and a 200 day moving average of $19.25.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada raised its holdings in Mesabi Trust by 43.7% in the 4th quarter. Royal Bank of Canada now owns 9,248 shares of the mining company’s stock valued at $189,000 after acquiring an additional 2,814 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in Mesabi Trust in the third quarter valued at about $120,000. LPL Financial LLC bought a new stake in Mesabi Trust during the third quarter worth about $267,000. JPMorgan Chase & Co. lifted its position in Mesabi Trust by 288.4% during the second quarter. JPMorgan Chase & Co. now owns 43,968 shares of the mining company’s stock worth $897,000 after purchasing an additional 32,648 shares during the period. Finally, BNP Paribas Arbitrage SNC acquired a new stake in Mesabi Trust during the second quarter worth about $111,000.

Mesabi Trust Company Profile

Mesabi Trust, a royalty trust, engages in iron ore mining business in the United States. The company was incorporated in 1961 and is based in New York, New York.