Mineral Rights and Investment Management
Seaboard and its 98% owned subsidiary are privately held investment management companies with 40 shareholders. The companies' primary assets are mineral rights--predominately oil and gas--in West Texas, Oklahoma, New Mexico and Louisiana.
Seaboard and Metropolitan were founded in the 1920's by Herbert Yates. His son Douglas managed the companies for 50 years until his death. Doug's son Tim is the currect CEO and President.
Seaboard's strategy is to optimize the value of Metropolitan's royalty properties and to pay substantially all of its royalty income to its shareholders in dividends.