Friedman Industries, Incorporated Announces Cash Dividend

Rhea-AI Summary

Friedman Industries (NYSE American: FRD) announced a cash dividend of $0.04 per share, declared by the Board of Directors on June 26, 2024. This dividend will be paid on August 16, 2024, to shareholders of record as of July 26, 2024. Notably, this marks the 210th consecutive quarterly cash dividend since the company went public in 1972. Dividends are reviewed quarterly and are intended to remain stable, with potential for increase as financial conditions allow. The company emphasizes that while it aims to continue this practice, future dividends are not guaranteed.

Positive

• Declared cash dividend of $0.04 per share.
• 210th consecutive quarterly cash dividend since 1972.
• Dividend payment reflects company’s stable financial position.

Negative

• Future dividend payments are not guaranteed.

LONGVIEW, Texas, June 26, 2024 (GLOBE NEWSWIRE) --  The Board of Directors (the “Board”) of Friedman Industries, Incorporated, (NYSE American: FRD) a Texas-based company engaged in steel processing, pipe manufacturing, and steel and pipe distribution, declared on June 26, 2024, a cash dividend of $0.04 per share on the Common Stock of the Company. The Company will pay the cash dividend on August 16, 2024 to shareholders of record at the close of business on July 26, 2024. This dividend marks the Company’s 210^th consecutive quarterly cash dividend since becoming publicly traded in 1972.

Dividends are declared at the discretion of the Board and reviewed on a quarterly basis. 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 cash dividend amount declared by Friedman Industries on June 26, 2024?

The cash dividend amount declared by Friedman Industries on June 26, 2024, is $0.04 per share.

When will Friedman Industries pay the declared dividend?

Friedman Industries will pay the declared dividend on August 16, 2024.

Who is eligible to receive the Friedman Industries dividend declared on June 26, 2024?

Shareholders of record at the close of business on July 26, 2024, are eligible to receive the dividend.

How often does Friedman Industries review its dividend payments?

Friedman Industries reviews its dividend payments on a quarterly basis.

What are some factors that Friedman Industries considers when declaring dividends?

Factors considered include financial condition, operating results, current and anticipated cash needs, and growth plans.

Has Friedman Industries paid dividends consistently?

Yes, Friedman Industries has paid dividends for 210 consecutive quarters since it became publicly traded in 1972.

Is there a guarantee that Friedman Industries will continue to pay dividends in the future?

No, while Friedman Industries aims to continue paying dividends, future payments are not guaranteed.