Kadant Declares Cash Dividend
06 September 2024 - 6:33AM
Kadant Inc. (NYSE: KAI) announced today that its Board of Directors
has approved a quarterly cash dividend to stockholders of $0.32 per
share to be paid on November 7, 2024 to stockholders of record as
of the close of business on October 10, 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 3,500 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 30, 2023 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; 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 to tax laws and
regulations; 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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