Friedman Industries, Incorporated to Issue Quarterly Dividend of $0.04 (NYSEAMERICAN:FRD)

Friedman Industries, Incorporated (NYSEAMERICAN:FRD - Get Free Report) announced a quarterly dividend on Wednesday, March 19th, RTT News reports. Stockholders of record on Friday, April 25th will be paid a dividend of 0.04 per share on Friday, May 23rd. This represents a $0.16 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Friday, April 25th.

Friedman Industries has raised its dividend by an average of 26.0% annually over the last three years.

Friedman Industries Stock Performance

Shares of NYSEAMERICAN FRD remained flat at $17.20 during mid-day trading on Friday. The stock had a trading volume of 17,192 shares, compared to its average volume of 15,150. The firm has a market capitalization of $119.88 million, a PE ratio of 21.23 and a beta of 1.40. Friedman Industries has a twelve month low of $13.40 and a twelve month high of $19.52.

Insider Activity

In other Friedman Industries news, CEO Mike J. Taylor bought 2,500 shares of the company's stock in a transaction that occurred on Wednesday, January 15th. The shares were purchased at an average price of $14.10 per share, with a total value of $35,250.00. Following the completion of the acquisition, the chief executive officer now directly owns 169,154 shares of the company's stock, valued at $2,385,071.40. This represents a 1.50 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tim Scott Stevenson bought 1,500 shares of the company's stock in a transaction that occurred on Tuesday, February 11th. The stock was acquired at an average cost of $17.23 per share, for a total transaction of $25,845.00. Following the acquisition, the director now directly owns 28,675 shares of the company's stock, valued at $494,070.25. The trade was a 5.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 7,180 shares of company stock worth $106,922. Corporate insiders own 4.60% of the company's stock.

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Friedman Industries Company Profile

Friedman Industries, Incorporated engages in steel processing, pipe manufacturing and processing, and the steel and pipe distribution businesses the United States. It operates in two segments, Coil and Tubular. The Coil segment is involved in the conversion of steel coils into flat sheet and plate steel cut to customer specifications and reselling steel coils.