Friedman Industries, Incorporated (FRD) to Issue Quarterly Dividend of $0.04 on May 23rd

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) declared a quarterly dividend on Wednesday, March 19th, RTT News reports. Investors of record on Friday, April 25th will be given 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 is Friday, April 25th.

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

Friedman Industries Trading Up 0.1 %

NYSEAMERICAN FRD opened at $17.20 on Friday. The stock has a market cap of $119.88 million, a P/E 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.

Insiders Place Their Bets

In other Friedman Industries news, Director Tim Scott Stevenson acquired 1,500 shares of the stock in a transaction on Tuesday, February 11th. The stock was purchased at an average price of $17.23 per share, for a total transaction of $25,845.00. Following the purchase, the director now directly owns 28,675 shares in the company, valued at $494,070.25. This trade represents a 5.52 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Mike J. Taylor acquired 2,500 shares of the stock in a transaction on Wednesday, January 15th. The shares were acquired at an average price of $14.10 per share, with a total value of $35,250.00. Following the purchase, the chief executive officer now owns 169,154 shares in the company, valued at $2,385,071.40. This represents a 1.50 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 7,180 shares of company stock worth $106,922 over the last three months. 4.60% of the stock is owned by insiders.

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.