Friedman Industries Declares Consistent Cash Dividend for Investors

Author: Logan Wright Updated: 09-18-2024 03:14 PM

Friedman Industries Declares Cash Dividend

Friedman Industries, Incorporated, known under the ticker FRD, has been a significant player in the steel industry, focusing on steel processing, pipe manufacturing, and distribution. Recently, the company’s Board of Directors made an important announcement regarding dividends.

Announcement of Cash Dividend

The Board declared a cash dividend of $0.04 per share on their Common Stock. This decision reflects the company’s ongoing commitment to reward its shareholders and reflects careful consideration of their financial strategy. The dividend payout is set for November 15 to those shareholders recorded by the close of business on October 25.

Significance of this Dividend

This cash dividend is particularly noteworthy as it marks the 211th consecutive quarterly dividend since Friedman Industries became publicly traded in 1972. Such consistency is a testament to the company's resilient business strategy and dedication to its investors over the years.

Board’s Approach to Dividend Payments

The dividends are not just a routine decision. The Board reviews the feasibility of these payments every quarter, taking into account the company’s financial standing, operational results, and future growth aspirations. This diligence ensures that dividends can remain stable and may even see increases if the company's performance supports it.

Future Outlook for Dividends

While Friedman Industries has maintained regular dividends as a key part of its operations for many years, the Board emphasizes that there are no absolute guarantees on future payments. This is due to the dynamic nature of the business environment and corresponding financial needs. The decision to pay dividends is influenced by various factors, including current financial conditions and anticipated cash needs for future growth.

Contact Information for Further Inquiries

For more details about the dividend announcement and what it means for investors, Mr. Alex LaRue, the Chief Financial Officer and Secretary, is available for inquiries at (903) 758-3431.

Frequently Asked Questions

What is the cash dividend declared by Friedman Industries?

Friedman Industries announced a cash dividend of $0.04 per share.

When will the cash dividend be paid?

The cash dividend is scheduled to be paid on November 15 to shareholders recorded as of October 25.

How many consecutive quarterly dividends has Friedman Industries paid?

This dividend marks the company's 211th consecutive quarterly cash dividend.

What factors does the Board consider when declaring dividends?

The Board considers financial condition, operational results, cash needs, and growth plans before deciding on dividends.

Who can I contact for more information about the dividend?

Mr. Alex LaRue, Chief Financial Officer, can be reached at (903) 758-3431 for more information.

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