Mesabi Trust (MSB) Social Stream
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$CLF $MSBCodfather314, published July 13, 2021
July 12 (National Post) -- NEW YORK - The Trustees of Mesabi Trust (NYSE:MSB) declared a distribution of nine cents ($0.09) per Unit of Beneficial Interest payable on August 20, 2021 to Mesabi Trust Unitholders of record at the close of business on July 30, 2021. This compares to a distribution of five cents ($0.05) per Unit for the same period last year.
The four cents ($0.04) per Unit increase in the current distribution, as compared to the distribution announced by the Trust at the same time last year, is primarily attributable to the Trust's receipt of total royalty payments of $ 6,340,032 on April 30, 2021 from Cleveland-Cliffs Inc. ("Cliffs"), the parent company of Northshore Mining Company, which is primarily attributable to higher prices for iron ore products reflected in the first quarter 2021 royalty calculations, and higher volume of shipments during the first quarter 2021, compared with shipments in the first quarter 2020.
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