FRIEDMAN INDUSTRIES, INCORPORATED ANNOUNCES CASH DIVIDEND
June 28 2021 - 1:06PM
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 June
28, 2021, a cash dividend of $0.02 per share on the Common Stock of
the Company. The Company will pay the cash dividend on August 6,
2021 to shareholders of record at the close of business on July 16,
2021. This dividend marks the Company’s 198th 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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