Kadant Declares Cash Dividend
19 November 2021 - 8:11AM
Kadant Inc. (NYSE: KAI) announced today that its Board of Directors
has approved a quarterly cash dividend to stockholders of $0.25 per
share to be paid on February 3, 2022 to stockholders of record as
of the close of business on January 6, 2022. Future declarations of
dividends are subject to Board approval and may be adjusted as
business needs or market conditions change.
About
Kadant Kadant
Inc. is a global supplier of high-value, critical components and
engineered systems used in process industries worldwide. The
Company’s products, technologies, and services play an integral
role in enhancing process efficiency, optimizing energy
utilization, and maximizing productivity in resource-intensive
industries. Kadant is based in Westford, Massachusetts, with
approximately 2,900 employees in 21 countries worldwide. For more
information, visit www.kadant.com.
Safe Harbor StatementThe following
constitutes a “Safe Harbor” statement under the Private Securities
Litigation Reform Act of 1995: This press release contains
forward-looking statements that involve a number of risks and
uncertainties, including forward-looking statements about our
business, financial performance, and cash dividend program. These
forward-looking statements represent our expectations as of the
date of this press release. We undertake no obligation to publicly
update any forward-looking statement, whether as a result of new
information, future events, or otherwise. These forward-looking
statements are subject to known and unknown risks and uncertainties
that may cause our actual results to differ materially from these
forward-looking statements as a result of various important
factors, including those set forth under the heading "Risk Factors"
in Kadant’s annual report on Form 10-K for the fiscal year ended
January 2, 2021 and subsequent filings with the Securities and
Exchange Commission. These include risks and uncertainties relating
to the impact of the COVID-19 pandemic on our operating and
financial results; adverse changes in global and local economic
conditions; the variability and difficulty in accurately predicting
revenues from large capital equipment and systems projects; health
epidemics; our acquisition strategy; levels of residential
construction activity; reductions by our wood processing customers
of their capital spending or production of oriented strand board;
changes to the global timber supply; development and use of digital
media; cyclical economic conditions affecting the global mining
industry; demand for coal, including economic and environmental
risks associated with coal; failure of our information systems or
breaches of data security and cybertheft; implementation of our
internal growth strategy; supply chain constraints, inflationary
pressure, price increases and shortages in raw materials;
competition; changes in our tax provision or exposure to additional
tax liabilities; our ability to successfully manage our
manufacturing operations; disruption in production; future
restructurings; loss of key personnel and effective succession
planning; protection of intellectual property; climate change;
adequacy of our insurance coverage; global operations; policies of
the Chinese government; the variability and uncertainties in sales
of capital equipment in China; currency fluctuations; economic
conditions and regulatory changes caused by the United Kingdom’s
exit from the European Union; changes to government regulations and
policies around the world; compliance with government regulations
and policies and compliance with laws; environmental laws and
regulations; environmental, health and safety laws and regulations
impacting the mining industry; our debt obligations; restrictions
in our credit agreement and note purchase agreement; substitution
of an alternative index for LIBOR; soundness of financial
institutions; fluctuations in our share price; and anti-takeover
provisions.
ContactsInvestor Contact
Information:Michael McKenney,
978-776-2000IR@kadant.com orMedia Contact Information:Wes
Martz, 269-278-1715media@kadant.com
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