Mesabi Trust

MSB

Market cap $329M

NEW YORK--(BUSINESS WIRE)--Announcement of Mesabi Trust Distribution The Trustees of Mesabi Trust (NYSE: MSB) declared a distribution of five cents ($0.05) per Unit of Beneficial Interest (“Unit”), payable on August 20, 2026, to Mesabi Trust Unitholders of record at the close of business on July 30, 2026. This compares to a twelve cents ($0.12) per Unit distribution declared for the same period last year. The Trustees' announcement today of a five cents ($0.05) per Unit distribution, as compare.

NEW YORK--(BUSINESS WIRE)--Quarterly Royalty Report and Royalty Payment On April 30, 2026, the Trustees of Mesabi Trust (NYSE: MSB) received the quarterly royalty report of iron ore shipments from Silver Bay, Minnesota during the quarter ended March 31, 2026 (the “Royalty Report”) from Cleveland-Cliffs Inc. (“Cliffs”), the parent company of Northshore Mining Company (“Northshore”). As reported to Mesabi Trust by Cliffs in the Royalty Report, based on shipments of iron ore products by Northshore.

NEW YORK--(BUSINESS WIRE)--Announcement of Mesabi Trust Distribution The Trustees of Mesabi Trust (NYSE:MSB) declared a distribution of twenty-four cents ($0.24) per Unit of Beneficial Interest payable on May 20, 2026 to Mesabi Trust Unitholders of record at the close of business on April 30, 2026. This compares to a fifty-six cents ($0.56) per Unit distribution declared for the same period last year. The Trustees' announcement today of a twenty-four cents ($0.24) per Unit distribution, as comp.

NEW YORK--(BUSINESS WIRE)--Announcement of Mesabi Trust Distribution The Trustees of Mesabi Trust (NYSE:MSB) declared a distribution of twenty-six cents ($0.26) per Unit of Beneficial Interest payable on February 20, 2026 to Mesabi Trust Unitholders of record at the close of business on January 30, 2026. This compares to a five dollar ninety-five cents ($5.95) per Unit distribution declared for the same period last year. The Trustees' announcement today of a twenty-six cents ($0.26) per Unit di.

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NEW YORK--(BUSINESS WIRE)--Announcement of Mesabi Trust Distribution The Trustees of Mesabi Trust (NYSE:MSB) declared a distribution of thirty-four cents ($0.34) per Unit of Beneficial Interest payable on November 20, 2025 to Mesabi Trust Unitholders of record at the close of business on October 30, 2025. This compares to a thirty-nine cents ($0.39) per Unit distribution declared for the same period last year. The Trustees' announcement today of a thirty-four cents ($0.34) per Unit distribution.

NEW YORK--(BUSINESS WIRE)--Commencement of Arbitration On September 26, 2025, Mesabi Trust initiated arbitration against Northshore Mining Company (“Northshore”) and its parent, Cleveland Cliffs Inc. (“Cliffs”) and (Northshore and Cliffs, jointly, the “Operator”), the lessee/operator of the leased lands. Mesabi Trust commenced the arbitration proceeding through the American Arbitration Association. Mesabi Trust seeks damages and declaratory relief relating to the Operator's idling of Northshore.

Mesabi Trust's royalty income is highly dependent on Cleveland-Cliffs' operations and iron ore prices, both of which face macroeconomic headwinds. Recent royalty payments and distributions have declined despite higher iron ore prices, due to Cliffs' limited third-party sales and shipment timing control. Manufacturing demand in the US and China remains weak, increasing the risk of further production halts and reduced or suspended distributions.

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