Synalloy Corporation paid a USD 0.25 cash dividend during the first and fourth quarters of 2010 amounting to payments of USD 1,581,000 and USD 1,585,000, respectively.

The December dividend would have customarily been paid after the fiscal year end but the Board of Directors decided to make the dividend payable in 2010 due to the possibility of a tax increase for 2011, which existed at that time. The company had USD 219,000 of bank debt outstanding as of the end of 2010.