Friedman Industries, Incorporated Announces Cash Dividend
Rhea-AI Summary
Friedman Industries (NYSE American: FRD) announced its Board of Directors has declared a cash dividend of $0.04 per share on December 3, 2024. The dividend will be paid on February 14, 2025 to shareholders of record as of January 17, 2025.
This marks the company's 212th consecutive quarterly dividend since its public listing in 1972. The Board reviews dividends quarterly, aiming to maintain stable payments with potential periodic increases based on financial performance and operational support. While the company intends to continue its dividend practice, future payments are subject to various factors including financial condition, operating results, cash needs, and growth plans.
Positive
- Maintains 53-year track record of consecutive quarterly dividend payments since 1972
- Demonstrates consistent shareholder return policy
- Board indicates possibility of future dividend increases based on performance
Negative
- No guarantee of continued dividend payments despite historical consistency
- Current dividend amount remains unchanged, showing no immediate growth
News Market Reaction
On the day this news was published, FRD declined 4.45%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
LONGVIEW, Texas, Dec. 03, 2024 (GLOBE NEWSWIRE) -- The Board of Directors (the “Board”) of Friedman Industries, Incorporated, (NYSE American: FRD) a Texas-based company engaged in steel processing, pipe manufacturing, and steel and pipe distribution, declared on December 3, 2024, a cash dividend of
Dividends are declared at the discretion of the Board and reviewed on a quarterly basis. 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
When will Friedman Industries (FRD) pay its latest dividend?
What is the record date for Friedman Industries' (FRD) latest dividend?
How many consecutive quarterly dividends has Friedman Industries (FRD) paid?
What is the amount of Friedman Industries' (FRD) latest quarterly dividend?
