Mesabi Trust (NYSE:MSB) Announces Quarterly Earnings Results

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

Mesabi Trust Stock Performance

MSB stock traded down $0.91 during mid-day trading on Friday, hitting $25.41. The stock had a trading volume of 13,617 shares, compared to its average volume of 27,497. Mesabi Trust has a 1-year low of $15.93 and a 1-year high of $28.69. The company has a fifty day moving average of $25.70 and a 200 day moving average of $20.79.

Mesabi Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Wednesday, October 30th were given a dividend of $0.39 per share. This is a boost from Mesabi Trust’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, October 30th. This represents a $1.56 dividend on an annualized basis and a yield of 6.14%. Mesabi Trust’s dividend payout ratio (DPR) is presently 115.56%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Mesabi Trust from a “buy” rating to a “hold” rating in a research note on Monday, September 9th.

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.