FRIEDMAN INDUSTRIES, INCORPORATED ANNOUNCES CASH DIVIDEND
June 20 2023 - 6:55PM
Friedman Industries, Incorporated (NYSE—American; Trading Symbol:
FRD)
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 20, 2023, a cash dividend of $0.02 per share on
the Common Stock of the Company. The Company will pay the cash
dividend on August 11, 2023 to shareholders of record at the close
of business on July 21, 2023. This dividend marks the Company’s
206th 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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