Mesabi Trust cuts quarterly distribution to $0.24 from $0.56; royalty payments fell 45%

MESABI TRUST

Distribution of $0.24/unit declared, payable May 20 to holders of record Apr 30; down from $0.56 last year.
Royalty payments from Cliffs in Jan 2026 were $4.94M versus $8.99M in Jan 2025.
Trustees cite uncertainties from Cliffs' supply-chain plans, tariff changes, and industry volatility.
Next quarterly royalty report and payment from Cliffs due April 30, 2026.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MESABI TRUST reported results: revenue $4,943,488.

Revenue: $4,943,488
Result: reported results

Exact text from the filing

In particular, the Trustees’ current distribution determination reflects that the Trust received total royalty payments of $4,943,488 on January 30, 2026, from Cleveland-Cliffs Inc. (“Cliffs”), the parent company of Northshore Mining Company (“Northshore”), which was lower than the total royalty payments of $8,986,464 received by the Trust from Cliffs in January 2025, all of which was previously reported.

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Source: SEC EDGAR

accession 0001104659-26-043216

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