Friedman Industries, Incorporated Announces Cash Dividend
June 26 2024 - 5:27PM
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 June 26, 2024, a cash dividend of $0.04
per share on the Common Stock of the Company. The Company will pay
the cash dividend on August 16, 2024 to shareholders of record at
the close of business on July 26, 2024. This dividend marks the
Company’s 210th 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.
For further information regarding this dividend, please contact Mr. Alex LaRue, Chief Financial Officer – Secretary and Treasurer at (903)758-3431.
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