secwatch.observer — SEC 8-K summary
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Issuer:     MESABI TRUST (MSB)
CIK:        0000065172
Form:       8-K
Filed at:   2022-01-11T23:59:59+00:00
Accession:  0001558370-22-000197
Event type: dividend
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mesabi Trust declares $1.75/unit distribution, up from $0.46 YoY
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- Declared distribution of $1.75 per unit payable Feb 20, 2022 to holders of record Jan 30, 2022.
- Distribution increased by $1.29 per unit vs. $0.46 distribution same period last year.
- Increase driven by receipt of $19.05M in royalty payments from Cleveland-Cliffs, including $2.83M for past underpaid royalties from arbitration award.
- Higher iron ore prices and shipment volumes in Q3 2021 also contributed to royalty increase.
- Cliffs has not notified Trust of changes to plans to shift DR pellet production away from Northshore; next royalty payment due Jan 30, 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/65172/000155837022000197/0001558370-22-000197-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/65172/000155837022000197/msb-20220110x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-22-000197

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