|Bid||30.83 x 3000|
|Ask||30.89 x 2200|
|Day's Range||30.37 - 31.09|
|52 Week Range||21.60 - 32.68|
|Beta (3Y Monthly)||1.26|
|PE Ratio (TTM)||8.88|
|Forward Dividend & Yield||5.56 (18.98%)|
|1y Target Est||N/A|
The Trustees of Mesabi Trust (MSB) declared a distribution of eighty-nine cents ($0.89) per Unit of Beneficial Interest payable on May 20, 2019 to Mesabi Trust Unitholders of record at the close of business on April 30, 2019. This compares to a distribution of forty-five cents ($0.45) per Unit of Beneficial Interest for the same period last year. The forty-four cents ($0.44) per Unit increase in the current distribution, as compared to the same quarter last year, is primarily attributable to a higher volume of shipments during the fourth calendar quarter 2018, at higher average iron ore sales prices, compared to the fourth quarter 2017, and to the Trust’s receipt of total royalty payments of $12,388,664 on January 30, 2019 from Northshore Mining Company (“Northshore”) which was higher than the total royalty payments of $6,198,950 received by the Trust from Northshore during January 2018.
The Dow Jones Industrial Average saw losses in Boeing and its cyclical components while Apple continued its breakout. Techs are holding up better.
On January 23, 2019, Mesabi Trust (MSB) reconvened its Special Meeting of the Trust Certificate Holders of Mesabi Trust (the “Special Meeting”). At the reconvened Special Meeting, a total of 8,797,177 units of beneficial interest, or approximately 67.05% of our total 13,120,010 units outstanding and eligible to vote, were represented in person or by proxy, and constituted a quorum. At the reconvened Special Meeting, 6,896,828 units of beneficial interest, representing approximately 52.56% of the total units outstanding, voted “FOR” the appointment of Robin M. Radke, as a successor trustee of Mesabi Trust.
The Trustees of Mesabi Trust (MSB) today re-affirmed their unanimous support for successor trustee nominee Robin M. Radke to be appointed by unitholders at its adjourned Special Meeting of Trust Certificate Holders, which is scheduled for 11:00 A.M. Central Time, on Wednesday, January 23, 2019 at the offices of Fox Rothschild LLP, 222 South Ninth Street, Suite 2000, Minneapolis, Minnesota 55402 (the “Special Meeting”). The Trustees of Mesabi Trust are continuing to solicit proxies from its Trust Certificate Holders requesting that holders vote “FOR” approval of Proposal 1 for the appointment of Robin M. Radke as an individual trustee of Mesabi Trust to succeed Richard G. Lareau, who is retiring.
The Trustees of Mesabi Trust (MSB) today announced that a quorum was present at its Special Meeting of Trust Certificate Holders, which was convened on December 20, 2018 (the “Special Meeting”), and that the Special Meeting has been adjourned until 11:00 A.M., Central Time, on Wednesday, January 23, 2019 at the offices of Fox Rothschild LLP, 222 South Ninth Street, Suite 2000, Minneapolis, Minnesota 55402 to allow additional time for further solicitation of proxies for the Special Meeting. During the adjournment period, the Trustees of Mesabi Trust will continue to solicit proxies from its Trust Certificate Holders requesting approval of Proposal 1 (the appointment of Robin M. Radke as an individual trustee of Mesabi Trust to succeed Richard G. Lareau, who is retiring) and Proposal 2 (the approval of an amendment to the Agreement of Trust which would increase the minimum compensation payable to each individual Trustee and the Corporate Trustee).
A market correction in the fourth quarter, spurred by a number of global macroeconomic concerns and rising interest rates ended up having a negative impact on the markets and many hedge funds as a result. The stocks of smaller companies were especially hard hit during this time as investors fled to investments seen as being […]
The Trustees of Mesabi Trust (MSB) today announced that leading independent proxy advisory firms, Institutional Shareholder Services (“ISS”) and Glass, Lewis & Co. (“Glass Lewis”)1 , have recommended that Mesabi Trust Unitholders vote “FOR” all four of the Trustee’s proposals at the Special Meeting of Unitholders scheduled to be held on Thursday, December 20, 2018. Both ISS and Glass Lewis, the two leading independent proxy advisory firms whose recommendations are relied upon by major institutional investment firms and other institutional shareholders, refer to the solid rationale and practices of the Mesabi Trust as factors supporting their FOR recommendations.
The Trustees of Mesabi Trust (NYSE: “MSB”) announced today that Richard G. Lareau, a Trustee of Mesabi Trust since 1989, will be retiring and resigning from his position as a Trustee of Mesabi Trust. Mr. Lareau’s resignation as Trustee of Mesabi Trust will be effective as of the date his successor is appointed by a majority in interest of the Trust Certificate holders at a special meeting called for such purpose. In accordance with the terms of the Mesabi Trust Agreement, the Trustees will call a special meeting of Trust Certificate holders for the purpose of voting to approve a successor trustee and such other matters as the Trustees shall determine.
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Royalty trusts can be great holdings for investors who want income that rises in sync with commodity prices. These trusts hold interests in oil, gas or mineral production and collect more income when energy prices rise, resulting in bigger distributions (similar to dividends) and high yields for their investors. So far in 2018, royalty trust investors have benefited from a 12% improvement in sale prices for benchmark West Texas Intermediate (WTI) crude oil, which was recently trading at $67 a barrel. Prices are now up nearly 150% from their low of about $27 per barrel two years ago. Royalty trusts typically offer high yields, frequently better than 7%. And many of these trusts have increased their distributions multiple times this year thanks to higher energy prices. The principal drawback: Distributions decline over time because the trust's energy reserves deplete; royalty income from oil and gas sales gradually drops to zero. Royalty trusts are required to disclose and annually update estimates of their remaining reserve life - though conservative estimates mean many trusts live on well past their expected termination date. Royalty trust distributions also can move along with energy prices, which means they don't just rise - they can drop, too. And that tax advantage comes with more complex tax reporting; investors sometimes must pay income taxes to multiple states if the trust's assets are spread over several jurisdictions. Still, royalty trusts' high-income potential should earn them a spot in most portfolios. These 10 royalty trusts in particular offer high yields that fly far under Wall Street's radar. SEE ALSO: 53 Best Dividend Stocks for 2018 and Beyond
Mesabi Trust (NYSE:MSB) is a company with exceptional fundamental characteristics. Upon building up an investment case for a stock, we should look at various aspects. In the case of MSB,Read More...
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