Friedman Inds Stock Price, News & Analysis

Friedman Industries, Incorporated (NYSE: FRD) announced a cash dividend of $0.02 per share, payable on May 26, 2023, to shareholders of record by April 28, 2023. This marks the company's 205th consecutive quarterly dividend, having consistently paid dividends since becoming public in 1972. The Board of Directors aims to maintain stable dividends and potentially increase them as financial conditions allow. Significant factors for this decision include financial health and future cash needs. However, declarations are subject to Board discretion and may change.

Friedman Industries (FRD) reported net earnings of $1.38 million ($0.19 EPS) for the third quarter ended December 31, 2022, contrasting a net loss of $2.96 million (-$0.45 EPS) from the previous year. Sales surged to $111.86 million from $51.66 million due to increased volume from newly acquired facilities and a new plant in Sinton, Texas. The company processed 113,000 tons of steel compared to 39,000 tons in the same quarter last year. Despite rising hot-rolled coil prices, margins were pressured during the quarter. The company anticipates continued growth, projecting 115,000 to 125,000 tons in the next quarter with margin improvements expected.

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.