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Dividend Yield: 11.3%
Market Cap: $275 million
Mesabi Trust (MSB) holds interests in various iron ore properties in the Mesabi Iron Range in Minnesota, including 9,750 contiguous acres in St. Louis County. This stock has performed remarkably well in recent months and is up about 400% from its March 2009 low.
As industrial demand for iron picks up, Mesabi should see an even brighter future. With a forward P/E of just 13, the company has a lot of room to grow and should maintain its hefty dividend.
At the time of this writing, the author did not own shares of MSB.
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