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

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) announced a quarterly dividend on Wednesday, March 19th, RTT News reports. Shareholders 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 yield of 0.93%. The ex-dividend date of this dividend is Friday, April 25th.

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

Friedman Industries Stock Performance

Shares of Friedman Industries stock opened at $17.20 on Friday. The firm has a market cap of $119.88 million, a price-to-earnings ratio of 21.23 and a beta of 1.40. Friedman Industries has a 1-year low of $13.40 and a 1-year high of $19.52.

Insider Activity

In other news, CEO Mike J. Taylor purchased 1,980 shares of the stock in a transaction dated Monday, January 13th. The shares were bought at an average cost of $14.50 per share, for a total transaction of $28,710.00. Following the transaction, the chief executive officer now owns 166,134 shares in the company, valued at $2,408,943. This trade represents a 1.21 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Tim Scott Stevenson purchased 1,500 shares of the stock in a transaction dated Tuesday, February 11th. The shares were purchased at an average price of $17.23 per share, for a total transaction of $25,845.00. Following the completion of the transaction, the director now owns 28,675 shares in the company, valued at $494,070.25. This trade represents a 5.52 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 7,180 shares of company stock worth $106,922. 4.60% of the stock is owned by company insiders.

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.