FRIEDMAN INDUSTRIES, INCORPORATED ANNOUNCES CASH DIVIDEND

Rhea-AI Summary

Friedman Industries, a Texas-based pipe manufacturing company, declared a cash dividend of $0.02 per share on March 24, 2021. This dividend, to be paid on May 21, 2021, is for shareholders of record by April 23, 2021. Notably, this marks the 197th consecutive quarterly cash dividend since the company went public in 1972. While the Board aims to maintain stable dividends and increase them when possible, it cautions that future payments are not guaranteed and depend on various financial factors.

Positive

• Declaration of a cash dividend of $0.02 per share.
• Marks the 197th consecutive quarterly cash dividend.
• Indicates potential for periodic increases in dividend payments.

Negative

• Future dividend payments are not guaranteed and depend on financial conditions.

LONGVIEW, Texas, March 24, 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 March 24, 2021, a cash dividend of $0.02 per share on the Common Stock of the Company. The Company will pay the cash dividend on May 21, 2021 to shareholders of record at the close of business on April 23, 2021. This dividend marks the Company’s 197^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.

FAQ

What is the dividend amount declared by Friedman Industries on March 24, 2021?

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

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

The dividend will be paid on May 21, 2021.

What is the record date for the Friedman Industries dividend?

The record date for the dividend is April 23, 2021.

How many consecutive quarterly cash dividends has Friedman Industries paid?

Friedman Industries has paid 197 consecutive quarterly cash dividends.

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

No, future dividend payments are not guaranteed and depend on financial conditions.