FRIEDMAN INDUSTRIES, INCORPORATED ANNOUNCES CASH DIVIDEND
March 31 2022 - 4:02PM
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 March
31, 2022, a cash dividend of $0.02 per share on the Common Stock of
the Company. The Company will pay the cash dividend on May 27, 2022
to shareholders of record at the close of business on April 29,
2022. This dividend marks the Company’s 201st 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.
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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