FRIEDMAN INDUSTRIES, INCORPORATED ANNOUNCES CASH DIVIDEND

Rhea-AI Summary

Friedman Industries, Incorporated (NYSE: FRD) announced a cash dividend of $0.02 per share, payable on May 26, 2023, to shareholders of record by April 28, 2023. This marks the company's 205th consecutive quarterly dividend, having consistently paid dividends since becoming public in 1972. The Board of Directors aims to maintain stable dividends and potentially increase them as financial conditions allow. Significant factors for this decision include financial health and future cash needs. However, declarations are subject to Board discretion and may change.

Positive

• Declared a cash dividend of $0.02 per share.
• Maintains a record of 205 consecutive quarterly cash dividends.
• Dividend payment reflects confidence in financial stability.

Negative

• No guarantees on future dividend payments despite historical consistency.

LONGVIEW, Texas, March 21, 2023 (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 March 21, 2023, a cash dividend of $0.02 per share on the Common Stock of the Company. The Company will pay the cash dividend on May 26, 2023 to shareholders of record at the close of business on April 28, 2023. This dividend marks the Company’s 205th 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 for March 2023?

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

When is the dividend payable for Friedman Industries?

The dividend is payable on May 26, 2023.

What is the record date for receiving the dividend from Friedman Industries?

Shareholders must be on record by April 28, 2023, to receive the dividend.

How long has Friedman Industries been paying dividends?

Friedman Industries has paid a cash dividend every quarter since 1972.

Does Friedman Industries guarantee future dividend payments?

There is no guarantee that dividends will always continue in the future, as they are declared at the Board's discretion.