Sat, Aug 30, 2014, 5:53 AM EDT - U.S. Markets closed


% | $
Quotes you view appear here for quick access.

Mesabi Trust Message Board

  • mr.stephenboone mr.stephenboone Jan 15, 2009 10:22 AM Flag

    Any reason to doubt this?

    Frankly, even though I am long and might be considered biased, I think this is undervalued based on the following.

    NEW YORK--(Business Wire)--The Trustees of Mesabi Trust (NYSE: MSB) declared a distribution
    of fifty-one and one-half cents ($0.515) per Unit of Beneficial
    Interest payable on February 20, 2008 to Mesabi Trust Unitholders of
    record at the close of business on January 30, 2008. This compares to
    a distribution of thirty-one and one-half cents ($0.315) per Unit for
    the same period last year.

    The increase in the distribution of twenty cents ($0.20) per Unit
    as compared to the same quarter last year is due to significantly
    higher shipments of iron ore pellets during the fourth calendar
    quarter of 2007. The Trust receives royalties based on the volume of
    shipments and the selling prices of iron ore pellets shipped by
    Northshore Mining Company ("Northshore"), the lessee/operator of the
    Mesabi Trust lands. Although iron ore pellet prices realized by
    Northshore with respect to pellets shipped from Mesabi Trust lands
    were, on average, approximately 3.7 % lower during the fourth calendar
    quarter of 2007 as compared to the fourth quarter of 2006, the total
    shipments of iron ore pellets credited to the Trust in the fourth
    quarter of 2007 increased from 764,807 gross tons in the fourth
    quarter of 2006 to 1,330,068 gross tons in the fourth quarter of 2007,
    an increase of 74%. The distribution announced today also reflects
    certain negative adjustments to royalties paid to the Trust in the
    second and third calendar quarters of 2007, as discussed more fully

    SortNewest  |  Oldest  |  Most Replied Expand all replies
19.32+0.07(+0.36%)Aug 29 3:59 PMEDT

Trending Tickers

Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.