MSB - Mesabi Trust: Full Production Is Back Despite Cleveland-Cliffs' Ambitions

2024-02-04 10:43:29 ET

Summary

• Mesabi Trust announces $0.37 quarterly dividend and Cleveland-Cliffs Inc. holds Q4 earnings call.
• Cleveland-Cliffs CEO threatens to use more scrap metal, but Mesabi Trust's production looks to be back to full capacity.
• Mesabi Trust offers a 7.2% forward yield with potential for higher dividends if iron ore prices increase.

I've written several articles on the Mesabi Trust ( MSB ) because it remains quite an attractive position. My last article dates back to October 23' but the company just announced another $0.37 quarterly dividend and Cleveland-Cliffs Inc. ( CLF ) just held its Q4 earnings call . Mesabi Trust actually sold off a lot because Cleveland Cliffs shut down operations at the Northshore Mine (the only royalty property of the trust) for a while. After restarting the operation, Cliffs CEO Goncalves threatened to use the mine as a swing operation and use more scrap....

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