Kadant Declares Cash Dividend

Rhea-AI Summary

Kadant Inc. (NYSE: KAI) has raised its quarterly cash dividend to $0.25 per share. This increase will take effect on May 12, 2021, for stockholders of record as of the close of business on April 14, 2021. Future dividends are subject to Board approval and may change based on market conditions. Kadant, based in Westford, Massachusetts, is a global supplier of critical components and engineered systems used in resource-intensive industries.

Positive

• Increased quarterly dividend to $0.25 per share, signaling confidence in financial performance.

Negative

• None.

Raises Quarterly Dividend to $0.25 per Share

WESTFORD, Mass., March 10, 2021 (GLOBE NEWSWIRE) -- Kadant Inc. (NYSE: KAI) announced today that its Board of Directors increased its quarterly cash dividend to stockholders to $0.25 per share to be paid on May 12, 2021 to stockholders of record as of the close of business on April 14, 2021. 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. Our 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 2,600 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 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; price increases or shortages of 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.

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 is the new dividend amount for KAI?

The new quarterly dividend amount for Kadant Inc. (KAI) is $0.25 per share.

When will the new dividend for KAI be paid?

The new dividend will be paid on May 12, 2021.

What is the record date for KAI's dividend payment?

The record date for the dividend payment is April 14, 2021.

Are future dividends for KAI guaranteed?

Future dividends are subject to Board approval and may vary based on business needs and market conditions.