Friedman Industries (NYSEAMERICAN:FRD) declared a quarterly dividend on Monday, September 14th, Wall Street Journal reports. Shareholders of record on Friday, October 9th will be paid a dividend of 0.02 per share on Friday, November 13th. This represents a $0.08 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Thursday, October 8th.
Friedman Industries has raised its dividend payment by 300.0% over the last three years and has increased its dividend annually for the last 1 consecutive years.
Shares of FRD stock traded down $0.01 during trading on Monday, hitting $6.23. The company had a trading volume of 10,883 shares, compared to its average volume of 11,159. Friedman Industries has a 52 week low of $3.72 and a 52 week high of $7.24.
In related news, CEO Mike J. Taylor purchased 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The stock was bought at an average cost of $5.49 per share, with a total value of $27,450.00. Following the completion of the purchase, the chief executive officer now directly owns 90,000 shares in the company, valued at $494,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
About Friedman Industries
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.
See Also: What is Elliott Wave theory?
Receive News & Ratings for Friedman Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Friedman Industries and related companies with MarketBeat.com's FREE daily email newsletter.