FRIEDMAN INDUSTRIES, INCORPORATED ANNOUNCES CASH DIVIDEND

Rhea-AI Summary

The Board of Directors of Friedman Industries declared a cash dividend of $0.02 per share on September 13, 2022. This dividend will be paid on November 18, 2022, to shareholders of record by October 14, 2022. This announcement marks the company's 203rd consecutive quarterly cash dividend since going public in 1972. The Board aims to maintain stable dividends that may increase in the future, contingent on financial health and operational performance.

Positive

• Declaring a cash dividend of $0.02 per share.
• 203rd consecutive quarterly cash dividend.
• Commitment to stable dividends for the foreseeable future.

Negative

• None.

LONGVIEW, Texas, Sept. 13, 2022 (GLOBE NEWSWIRE) -- (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 September 13, 2022, a cash dividend of $0.02 per share on the Common Stock of the Company. The Company will pay the cash dividend on November 18, 2022 to shareholders of record at the close of business on October 14, 2022. This dividend marks the Company’s 203rd 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 declared by FRD?

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

When will the dividend be paid to shareholders of FRD?

The dividend will be paid on November 18, 2022.

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

The record date for the dividend payment is October 14, 2022.

How many consecutive quarterly dividends has FRD paid?

Friedman Industries has paid 203 consecutive quarterly dividends.

Is the dividend payment from FRD guaranteed in the future?

While the company intends to maintain dividend payments, there is no guarantee they will continue.