Friedman Industries, Incorporated Announces Cash Dividend

Rhea-AI Summary

Friedman Industries (NYSE American: FRD), a Texas-based company specializing in steel processing, pipe manufacturing, and distribution, has announced its 211th consecutive quarterly cash dividend since going public in 1972. The Board of Directors declared a $0.04 per share dividend on September 18, 2024, payable on November 15, 2024 to shareholders of record as of October 25, 2024.

The company's dividend policy aims for stability and potential periodic increases based on financial performance. While Friedman Industries intends to continue its long-standing dividend practice, it cautions that future payments are not guaranteed and depend on various factors including financial condition, operating results, and growth plans.

Positive

• Declared 211th consecutive quarterly cash dividend since 1972
• $0.04 per share dividend to be paid to shareholders
• Consistent dividend history demonstrates financial stability

Negative

• No guarantee of continued dividend payments in the future
• Dividend amount unchanged, indicating potential lack of growth

LONGVIEW, Texas, Sept. 18, 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 September 18, 2024, a cash dividend of $0.04 per share on the Common Stock of the Company. The Company will pay the cash dividend on November 15, 2024 to shareholders of record at the close of business on October 25, 2024. This dividend marks the Company’s 211^th consecutive quarterly cash dividend since becoming publicly traded in 1972.

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?

Friedman Industries (FRD) will pay its latest cash dividend of $0.04 per share on November 15, 2024.

What is the record date for Friedman Industries' (FRD) recent dividend?

The record date for Friedman Industries' (FRD) recent dividend is October 25, 2024. Shareholders must be on record by close of business on this date to receive the dividend.

How many consecutive quarterly dividends has Friedman Industries (FRD) paid?

Friedman Industries (FRD) has paid 211 consecutive quarterly cash dividends since becoming publicly traded in 1972.

What factors does Friedman Industries (FRD) consider when declaring dividends?

Friedman Industries (FRD) considers various factors when declaring dividends, including financial condition, operating results, current and anticipated cash needs, and growth plans.