FRIEDMAN INDUSTRIES, INCORPORATED ANNOUNCES CASH DIVIDEND

Rhea-AI Summary

The Board of Directors of Friedman Industries declared a cash dividend of $0.02 per share on December 14, 2021. This dividend will be paid on February 11, 2022, to shareholders of record by January 14, 2022. This marks the company's 200th consecutive quarterly cash dividend, having paid dividends every quarter since going public in 1972. The Board aims to maintain a stable dividend level for the foreseeable future, with potential increases based on financial and operational performance.

Positive

• Declared a cash dividend of $0.02 per share.
• Marks the 200th consecutive quarterly cash dividend.
• Maintaining dividend stability suggests confidence in financial position.

Negative

• None.

LONGVIEW, Texas, Dec. 14, 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 December 14, 2021, a cash dividend of $0.02 per share on the Common Stock of the Company. The Company will pay the cash dividend on February 11, 2022 to shareholders of record at the close of business on January 14, 2022. This dividend marks the Company’s 200th 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 for Friedman Industries?

The dividend amount is $0.02 per share.

When will the dividend for Friedman Industries be paid?

The dividend will be paid on February 11, 2022.

What is the record date for the dividend?

The record date for the dividend is January 14, 2022.

How long has Friedman Industries been paying dividends?

Friedman Industries has paid a dividend every quarter since becoming public in 1972.

Will Friedman Industries continue to pay dividends in the future?

While the company intends to maintain dividends, there is no guarantee of future payments.