Kadant Declares Cash Dividend

Rhea-AI Summary

Kadant (NYSE: KAI) has announced a quarterly cash dividend of $0.32 per share, approved by its Board of Directors.

The dividend is scheduled to be paid on August 8, 2024, to stockholders recorded by the close of business on July 11, 2024.

Future dividends will be subject to the Board's approval and may change according to business needs or market conditions.

Positive

• Kadant declared a quarterly cash dividend of $0.32 per share.
• Dividend payment is scheduled for August 8, 2024.
• Dividend will be paid to stockholders of record by July 11, 2024.

Negative

• Future dividends are subject to Board approval, implying potential variability.
• Dividend adjustments may occur based on business needs or market conditions.

WESTFORD, Mass., May 16, 2024 (GLOBE NEWSWIRE) -- 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 August 8, 2024 to stockholders of record as of the close of business on July 11, 2024. 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 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 3,400 employees in 20 countries worldwide. For more information, visit www.kadant.com.

Safe Harbor Statement
The 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.

Contacts
Investor Contact Information:
Michael McKenney, 978-776-2000
IR@kadant.com 
or
Media Contact Information:
Wes Martz, 269-278-1715
media@kadant.com 

FAQ

What dividend did Kadant declare on May 16, 2024?

Kadant declared a quarterly cash dividend of $0.32 per share.

When will Kadant pay the $0.32 per share dividend?

The dividend is scheduled to be paid on August 8, 2024.

Who is eligible for Kadant's dividend announced in May 2024?

Stockholders of record as of the close of business on July 11, 2024, are eligible for the dividend.

Can Kadant's future dividends change?

Yes, future dividends are subject to Board approval and may be adjusted based on business needs or market conditions.