FRIEDMAN INDUSTRIES, INCORPORATED ANNOUNCES CASH DIVIDEND

Rhea-AI Summary

Friedman Industries (NYSE: FRD) announced a cash dividend of $0.02 per share on June 28, 2022. This payment will be made on August 12, 2022 to shareholders recorded by July 22, 2022. This marks the company's 202nd consecutive quarterly dividend, having consistently distributed dividends since becoming publicly traded in 1972.

The Board aims to maintain a stable dividend level and may increase it as financial conditions improve, although future payments are not guaranteed.

Positive

• Consistent dividend payments since 1972 enhance investor confidence.
• The latest dividend demonstrates financial stability with a focus on sustainability.

Negative

• None.

Longview, Texas, June 28, 2022 (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 28, 2022, a cash dividend of $0.02 per share on the Common Stock of the Company. The Company will pay the cash dividend on August 12, 2022 to shareholders of record at the close of business on July 22, 2022. This dividend marks the Company’s 202nd 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 Friedman Industries on June 28, 2022?

Friedman Industries declared a cash dividend of $0.02 per share on June 28, 2022.

When will Friedman Industries pay the declared dividend?

The dividend will be paid on August 12, 2022.

What is the record date for Friedman Industries' dividend?

The record date for the dividend payment is July 22, 2022.

How many consecutive quarterly dividends has Friedman Industries paid?

Friedman Industries has paid 202 consecutive quarterly dividends.

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

There is no guarantee that dividend payments will always continue in the future.