---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-116264"
form_type: "8-K"
ticker: "MSB"
cik: "0000065172"
company_name: "MESABI TRUST"
filed_at: "2026-10-15T20:35:14+00:00"
generated_at: "2026-10-15T20:36:02.555690+00:00"
event_type: "dividend"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Mesabi Trust declares no quarterly distribution, vs $0.34/Unit a year ago

## Summary
- No distribution declared and none payable in November 2026; prior-year period paid $0.34 per Unit of Beneficial Interest.
- July 30, 2026 royalty payment from Cleveland-Cliffs totaled $1,807,779, down from $5,300,287 received in July 2025, with no bonus royalty included.
- Cliffs reported all deemed Silver Bay shipments for Q1 and Q2 2026 priced below the 2026 adjusted bonus royalty threshold of $71.70 per ton; zero bonus royalties credited.
- Trustees cite preserving the unallocated reserve for pending arbitration and uncertainty over Cliffs' vertical supply chain implementation.
- Q3 2026 royalty payment and report due October 30, 2026; Trust will file a summary 8-K after receipt.

## SEC filing metadata
- accession: 0001104659-26-116264
- form_type: 8-K
- ticker: MSB
- cik: 0000065172
- company_name: MESABI TRUST
- filed_at: 2026-10-15T20:35:14+00:00
- event_type: dividend
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/65172/000110465926116264/0001104659-26-116264-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/65172/000110465926116264/msb-20261015x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-116264
- JSON: https://secwatch.observer/filing/0001104659-26-116264.json
- Plain text: https://secwatch.observer/filing/0001104659-26-116264.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.