FRIEDMAN INDUSTRIES, INCORPORATED ANNOUNCES CASH DIVIDEND

Rhea-AI Summary

Friedman Industries, Incorporated (NYSE: FRD) declared a cash dividend of $0.02 per share on December 5, 2022, which will be paid on February 10, 2023, to shareholders of record on January 13, 2023. This dividend represents the company’s 204th consecutive quarterly cash dividend, continuing its record since becoming publicly traded in 1972. The Board aims to maintain a stable dividend level, subject to the company’s financial condition and operational performance.

Positive

• 204 consecutive quarterly cash dividends paid since 1972.
• Current dividend of $0.02 per share indicates ongoing shareholder return.
• Management's commitment to stability and potential future increases in dividends.

Negative

• None.

LONGVIEW, Texas, Dec. 06, 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 December 5, 2022, a cash dividend of $0.02 per share on the Common Stock of the Company. The Company will pay the cash dividend on February 10, 2023 to shareholders of record at the close of business on January 13, 2023. This dividend marks the Company’s 204th 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 amount of the latest dividend declared by Friedman Industries (FRD)?

The latest dividend declared by Friedman Industries is $0.02 per share.

When will the cash dividend be paid to shareholders of FRD?

The cash dividend will be paid on February 10, 2023.

What is the record date for the dividend payment for Friedman Industries?

The record date for the dividend payment is January 13, 2023.

How many consecutive dividends has Friedman Industries paid?

Friedman Industries has paid 204 consecutive quarterly dividends since becoming publicly traded in 1972.

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

While Friedman Industries intends to continue paying dividends, there is no guarantee of future payments.