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LONGVIEW, Texas - Friedman Industries, Incorporated (NASDAQ:FRD), a $114 million market cap steel processor with a "GOOD" financial health rating according to InvestingPro, announced Wednesday that its Board of Directors has declared a quarterly cash dividend of $0.04 per share on the company’s common stock.
The dividend will be paid on August 8, 2025, to shareholders of record as of July 18, 2025, according to a press release statement from the steel processing and pipe manufacturing company. The annual dividend yield stands at 0.97%, with the stock showing an 8.22% return year-to-date.
This payment represents Friedman Industries’ 214th consecutive quarterly cash dividend since the company went public in 1972.
Friedman Industries’ Board reviews dividend payments quarterly, taking into account various factors including financial condition, operating results, cash needs, and growth plans when determining dividend amounts.
The Texas-based company is involved in steel processing, pipe manufacturing, and steel and pipe distribution operations.
While the company has maintained an unbroken dividend payment record for over five decades, the press release noted that future dividend payments are not guaranteed and remain subject to board approval based on business conditions.
In other recent news, Friedman Industries has announced a significant transition in its stock listing. The company will transfer its common stock from the NYSE American to the Nasdaq Global Select Market, effective April 8, 2025. This move is intended to enhance the company’s visibility in capital markets and potentially attract more investor capital. Additionally, Friedman Industries has appointed Baker Tilly as its new auditor following the merger of Moss Adams LLP with Baker Tilly US, LLP. Moss Adams, the former auditor, had no disagreements with Friedman Industries on accounting principles or financial statement disclosures during their tenure. The audit committee of Friedman Industries approved Baker Tilly as the successor auditor. These developments are part of Friedman Industries’ strategy to build long-term equity value and improve trading liquidity. Investors are advised to consider these changes, as they reflect the company’s ongoing efforts to optimize its market presence and financial oversight.
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