FRIEDMAN INDUSTRIES, INCORPORATED ANNOUNCES CASH DIVIDEND

Rhea-AI Summary

Friedman Industries declared a cash dividend of $0.02 per share on September 10, 2020, to be paid on November 13, 2020, to shareholders of record as of October 9, 2020. This marks the company's 195th consecutive quarterly dividend since going public in 1972. The Board aims to maintain a stable dividend level that may increase as the company’s financial position supports it. The intention to continue dividend payments is subject to the company’s financial condition, operating results, and cash needs.

Positive

• 195 consecutive quarterly dividends paid since 1972
• Stable dividend of $0.02 reflects financial confidence
• Potential for future dividend increases based on financial performance

Negative

• No guarantee of future dividend payments due to financial conditions

LONGVIEW, Texas, Sept. 10, 2020 (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 September 10, 2020, a cash dividend of $0.02 per share on the Common Stock of the Company. The Company will pay the cash dividend on November 13, 2020 to shareholders of record at the close of business on October 9, 2020. This dividend marks the Company’s 195^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 FRD in 2020?

The dividend amount declared for FRD is $0.02 per share.

When will the dividend for FRD be paid?

The dividend will be paid on November 13, 2020.

What is the record date for FRD's dividend?

The record date for the dividend is October 9, 2020.

How long has FRD been paying dividends?

FRD has paid dividends every quarter since becoming publicly traded in 1972.

Is there a risk of dividend payments being discontinued for FRD?

Yes, there is no guarantee that dividend payments will always continue due to financial conditions.