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

Mesabi Trust (NYSE:MSB) declared a quarterly dividend on Wednesday, April 17th, Wall Street Journal reports. Investors 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 dividend on an annualized basis and a yield of 6.63%. The ex-dividend date of this dividend 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 raised its dividend annually for the last 1 consecutive years.

Mesabi Trust Trading Up 1.3 %

Mesabi Trust stock traded up $0.22 during midday trading on Wednesday, reaching $17.49. The company had a trading volume of 26,238 shares, compared to its average volume of 35,306. Mesabi Trust has a 12-month low of $16.68 and a 12-month high of $26.00. The firm’s fifty day simple moving average is $18.01 and its 200-day simple moving average is $19.25.

Institutional Trading of Mesabi Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Morgan Stanley increased its holdings in shares of Mesabi Trust by 8.0% during the 4th quarter. Morgan Stanley now owns 167,911 shares of the mining company’s stock worth $3,026,000 after buying an additional 12,486 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Mesabi Trust by 70.1% during the 1st quarter. Bank of America Corp DE now owns 48,789 shares of the mining company’s stock worth $1,300,000 after buying an additional 20,103 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Mesabi Trust by 288.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 43,968 shares of the mining company’s stock worth $897,000 after buying an additional 32,648 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Mesabi Trust by 161.8% during the 4th quarter. Millennium Management LLC now owns 27,048 shares of the mining company’s stock worth $487,000 after buying an additional 16,715 shares during the last quarter. Finally, HighTower Advisors LLC increased its holdings in shares of Mesabi Trust by 3.0% during the 1st quarter. HighTower Advisors LLC now owns 20,280 shares of the mining company’s stock worth $510,000 after buying an additional 600 shares during the last quarter.

About Mesabi Trust

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.