Friedman Industries (NYSEAMERICAN:FRD) announced a quarterly dividend on Monday, June 29th, Wall Street Journal reports. Stockholders of record on Friday, July 17th will be paid a dividend of 0.02 per share on Friday, August 7th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Thursday, July 16th.
Friedman Industries has decreased its dividend payment by an average of 30.4% annually over the last three years and has raised its dividend every year for the last 3 years.
Shares of FRD opened at $4.95 on Tuesday. Friedman Industries has a 1-year low of $3.72 and a 1-year high of $7.24.
Friedman Industries, Incorporated engages in steel processing, pipe manufacturing and processing, and steel and pipe distribution activities in the United States. The company operates in two segments, Coil Products and Tubular Products. The Coil Products segment processes hot-roll coils into sheet and plate, as well as customer-owned coils on a fee basis; and sells these products on a wholesale basis.
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