FRIEDMAN INDUSTRIES, INCORPORATED ANNOUNCES CASH DIVIDEND

Rhea-AI Summary

On December 9, 2020, Friedman Industries, trading as FRD, declared a cash dividend of $0.02 per share on its Common Stock. This dividend will be paid on February 5, 2021, to shareholders of record as of January 8, 2021. This announcement marks the 196th consecutive quarterly cash dividend since the company became publicly traded in 1972. The Board's intent is to maintain a stable dividend, which they may increase based on the company’s financial strength and operations.

Positive

• Declared a cash dividend of $0.02 per share, reinforcing shareholder income.
• Maintained a record of 196 consecutive quarterly cash dividends, showcasing a strong dividend history.
• Indicates intention to sustain and possibly increase future dividends based on financial performance.

Negative

• None.

LONGVIEW, Texas, Dec. 09, 2020 (GLOBE NEWSWIRE) -- Friedman Industries, Incorporated (NYSE—American; Trading Symbol: FRD) The Board of Directors (the “Board”) of Friedman Industries, Incorporated, a Texas-based company engaged in pipe manufacturing, steel processing and steel and pipe distribution, declared on December 9, 2020, a cash dividend of $0.02 per share on the Common Stock of the Company. The Company will pay the cash dividend on February 5, 2021 to shareholders of record at the close of business on January 8, 2021. This dividend marks the Company’s 196^th consecutive quarterly cash dividend with the Company having paid a cash dividend every quarter since becoming publicly traded in 1972.

Dividends are declared at the discretion of the Board and reviewed on a quarterly basis. With the declaration of today’s dividend, the Board’s desire is to pay a dividend at a level that it feels can be held stable for the foreseeable future and which may be increased periodically as the Company’s financial position and operations become supportive of a new amount that the Board believes is sustainable. The determination to pay cash dividends takes into account various factors, including our financial condition, operating results, current and anticipated cash needs and growth plans. While we have paid a dividend every quarter since becoming a public company in 1972 and currently intend to continue that practice, there is no guarantee that payments of dividends will always continue in the future.

FAQ

What is the dividend amount declared by Friedman Industries (FRD)?

Friedman Industries declared a cash dividend of $0.02 per share.

When will the dividend for Friedman Industries be paid?

The dividend will be paid on February 5, 2021.

What is the record date for the dividend payment for FRD?

The record date for the dividend payment is January 8, 2021.

How long has Friedman Industries been paying quarterly dividends?

Friedman Industries has paid a cash dividend every quarter since it became publicly traded in 1972.

Can Friedman Industries guarantee future dividend payments?

While the company intends to continue paying dividends, there is no guarantee that payments will always continue.