Dividends & Buybacks ·
Mesabi Trust declares no distribution for Q3, comparing to $0.34 per unit last year
MSBMesabi Trust
The Trustees of Mesabi Trust have determined that no distribution will be declared or paid for the third quarter ending October 2026. This follows a $0.34 per Unit distribution in the same period last year. The decision reflects lower royalty payments from Cleveland-Cliffs Inc., which totaled $1,807,779 compared to $5,300,287 in July 2025, as no bonus royalties were triggered due to shipment prices falling below the adjusted threshold of $71.70 per ton. The Trustees also cited the need to maintain adequate reserves for ongoing expenses, pending arbitration, and industry volatility. Mesabi Trust is a royalty trust that receives payments based on iron ore production and shipments from Northshore Mining Company.