Friedman Industries, Incorporated (NYSEAMERICAN:FRD) Declares Dividend Increase – $0.04 Per Share

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) declared a quarterly dividend on Wednesday, March 20th, Wall Street Journal reports. Investors of record on Friday, April 26th will be paid a dividend of 0.04 per share on Friday, May 24th. This represents a $0.16 annualized dividend and a yield of 0.82%. The ex-dividend date is Thursday, April 25th. This is a positive change from Friedman Industries’s previous quarterly dividend of $0.02.

Friedman Industries Stock Performance

Shares of NYSEAMERICAN FRD opened at $19.45 on Wednesday. The stock has a market cap of $135.76 million, a PE ratio of 7.48 and a beta of 1.35. Friedman Industries has a 12-month low of $9.50 and a 12-month high of $19.52.

Friedman Industries (NYSEAMERICAN:FRD) last issued its earnings results on Wednesday, February 14th. The company reported $0.16 EPS for the quarter. The business had revenue of $115.97 million for the quarter. Friedman Industries had a net margin of 3.68% and a return on equity of 15.31%.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Friedman Industries from a “hold” rating to a “buy” rating in a research note on Friday, February 23rd.

About Friedman Industries

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.