FRIEDMAN INDUSTRIES, INCORPORATED ANNOUNCES CASH DIVIDEND

Rhea-AI Summary

Friedman Industries, a Texas-based pipe manufacturing firm, declared a cash dividend of $0.02 per share on June 28, 2021. This cash dividend is set to be paid on August 6, 2021, to shareholders of record as of July 16, 2021. This marks the company’s 198th consecutive quarterly cash dividend, maintaining a dividend payment record since 1972. The Board aims to stabilize future dividends, contingent on the company’s financial health and operational results. However, there is no guarantee for future dividend payments.

Positive

• Declared a cash dividend of $0.02 per share, enhancing shareholder income.
• Marking the 198th consecutive quarterly cash dividend, indicating consistent financial performance.

Negative

• Dividend payments are not guaranteed in the future, which may raise concerns for investors.

LONGVIEW, Texas, June 28, 2021 (GLOBE NEWSWIRE) -- 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, 2021, a cash dividend of $0.02 per share on the Common Stock of the Company. The Company will pay the cash dividend on August 6, 2021 to shareholders of record at the close of business on July 16, 2021. This dividend marks the Company’s 198th 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?

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

When will the dividend be paid to shareholders?

The dividend will be paid on August 6, 2021.

What is the record date for the dividend payment?

The record date for the dividend payment is July 16, 2021.

How often has Friedman Industries paid dividends?

Friedman Industries has paid dividends every quarter since going public in 1972.

Is there a guarantee for future dividends from Friedman Industries?

There is no guarantee that future dividend payments will continue.