Kadant Declares Cash Dividend
17 November 2023 - 8:15AM
Kadant Inc. (NYSE: KAI) announced today that its Board of Directors
has approved a quarterly cash dividend to stockholders of $0.29 per
share to be paid on February 1, 2024 to stockholders of record as
of the close of business on January 4, 2024. Future declarations of
dividends are subject to Board approval and may be adjusted as
business needs or market conditions change.
About KadantKadant Inc. is a global supplier of
technologies and engineered systems that drive Sustainable
Industrial Processing. The Company’s products and services play an
integral role in enhancing efficiency, optimizing energy
utilization, and maximizing productivity in process industries.
Kadant is based in Westford, Massachusetts, with approximately
3,100 employees in 20 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 December 31, 2022 and
subsequent filings with the Securities and Exchange Commission.
These include risks and uncertainties relating to 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 and pandemics; 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; 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; soundness of financial institutions; fluctuations in our
share price; and anti-takeover provisions.
ContactsInvestor Contact Information:Michael
McKenney, 978-776-2000IR@kadant.comorMedia Contact Information:Wes
Martz, 269-278-1715media@kadant.com
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