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Mesabi Trust

Mesabi Trust, a company that generates iron ore pellet sales proceeds, is listed on the New York Stock Exchange under the ticker symbol MSB. The Trust'ѕ overlying royalty interest includes an 81.58 percent interest in the Bruce Mine, a 100 percent interest in the Nancy H Gainey Annex, and a 100 percent interest in certain Mesabi Iron Range leases. Mesabi Trust's assets and operations are limited to the ownership of mining royalty interests. Mesabi Trust's core assets include about 81.58% share in the Bruce iron ore mine, situated near Babbitt, the Mesabi Iron Range, and St. Louis County, Minnesota, the United States. The Trust is organized out of Delaware and has its headquarters in New York City, New York, USA. The company's core business is the distribution of mining royalties.

The Trust's mining royalties contain Pellet Price Billed royalty payments, Iron Ore Pellet Income and certain Costs, which cover fixed and variable production costs, as well as other direct and indirect mining costs. The Mesabi Trust is New York-listed and has paid dividends consistently. Between 1967 and 2013, the company never missed a dividend but has cut the dividend five times. According to the company's website, the Trust has paid dividends to its unitholders totaling $ 1.44 per unit each quarter beginning with the first payment on Oct. 2, 2008.

The Trust's iron ore concentrate sales proceeds have significantly declined due to lower Pellet Sales Agreement pricing and mine production reductions resulting from short-term mine outages, mining restrictions, and seaborne iron ore supply surplus. This caused significant volatility in the stock price, resulting in a significant annualized dividend yield. Mesabi Trust is a mining royalty trust in the United States that generates revenue primarily from the pellet production output of Northshore Mining Company's silver-iron ore mine near Babbitt, Minnesota. Mesabi Trust is a grantor trust created pursuant to a Declaration of Trust executed on July 29, 1965.

Overall, iron ore investors and income investors seeking a reliable dividend stock have been attracted to Mesabi Trust because of its mining history.