FRIEDMAN INDUSTRIES, INCORPORATED ANNOUNCES CASH DIVIDEND

Rhea-AI Summary

Friedman Industries declared a cash dividend of $0.02 per share on June 25, 2020, to be paid on August 7, 2020, to shareholders recorded by July 17, 2020. This dividend represents the Company's 194th consecutive quarterly cash dividend, highlighting a strong historical commitment since becoming publicly traded in 1972. The Board aims to maintain a stable dividend level while considering the Company's financial health, operating results, and future cash needs, though there is no guarantee of ongoing payments.

Positive

• 194 consecutive quarterly cash dividends paid since 1972.
• The dividend amount of $0.02 reflects the Board's intention to maintain a stable payout.

Negative

• Future dividends are not guaranteed and depend on the Company's financial condition.

LONGVIEW, Texas, June 25, 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 June 25, 2020, a cash dividend of $0.02 per share on the Common Stock of the Company. The Company will pay the cash dividend on August 7, 2020 to shareholders of record at the close of business on July 17, 2020. This dividend marks the Company’s 194^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.

For further information regarding this dividend, please contact Mr. Alex LaRue, Chief Financial Officer – Secretary and Treasurer at (903)758-3431.

FAQ

What is the dividend amount for Friedman Industries (FRD)?

The dividend amount declared is $0.02 per share.

When will the dividend be paid to shareholders of Friedman Industries (FRD)?

The dividend will be paid on August 7, 2020.

What is the record date for the dividend of Friedman Industries (FRD)?

The record date for the dividend is July 17, 2020.

Has Friedman Industries (FRD) paid dividends consistently?

Yes, the company has paid dividends every quarter since it became publicly traded in 1972.

Can Friedman Industries (FRD) increase its dividend in the future?

The Board may increase the dividend amount periodically based on the company's financial performance.