The Board of Directors of Friedman Industries, Incorporated (NYSE-Amex: FRD), a Texas-based company engaged in pipe manufacturing, steel processing and steel and pipe distribution, declared on December 2, 2011, a quarterly cash dividend of $0.13 per share on the Common Stock of the Company. The Company will pay the cash dividend on February 17, 2012, to shareholders of record at the close of business on January 20, 2012.

For further information regarding this dividend, please contact Mr. Ben Harper, Senior Vice President - Finance, at 713-672-9433.