Synalloy Corporation a producer of stainless steel pipe, fabricator of stainless and carbon steel piping systems and producer of specialty chemicals, announced the declaration of an annual dividend of USD .25 per share payable on December 8th 2010 to holders of record on November 22nd 2010. The annual dividend has customarily been paid after the fiscal year end, but the possibility of a tax increase in 2011 led to the Board of Directors' decision to make this dividend payable in 2010.

In view of the difficult economic conditions, the Board is pleased with the increase in profitability so far this year and the excellent financial condition of the Company at this time. In determining the amount of this annual dividend, the Board considered the need to maintain a strong balance sheet to support plans to enter new product markets in the Metals Segment and other anticipated growth opportunities.

The Board presently plans to review at or near the end of each fiscal year the financial performance, cash and debt levels, as well as capital needed to support future growth to determine the amount of cash dividend, if any, that is appropriate.