Kadant Declares Cash Dividend

Rhea-AI Summary

Kadant Inc. (NYSE: KAI) has declared a quarterly cash dividend of $0.25 per share, payable on November 11, 2021, to stockholders of record as of the close of business on October 14, 2021. Future dividends are subject to Board approval and may vary based on market conditions. This announcement emphasizes Kadant's commitment to returning value to shareholders while acknowledging potential risks and uncertainties affecting its business, including those related to the COVID-19 pandemic and global economic conditions.

Positive

• Quarterly cash dividend of $0.25 per share enhances shareholder value.
• Dividend payment date and record date provide clarity for investors.

Negative

• Future dividends subject to market conditions may signal uncertainty.
• Risks tied to COVID-19 and economic conditions could impact financial performance.

WESTFORD, Mass., Sept. 09, 2021 (GLOBE NEWSWIRE) -- 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 November 11, 2021 to stockholders of record as of the close of business on October 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. 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 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 dividend amount for Kadant Inc. (KAI) in 2021?

Kadant Inc. has declared a quarterly cash dividend of $0.25 per share.

When will the dividend be paid to Kadant Inc. (KAI) shareholders?

The dividend will be paid on November 11, 2021, to shareholders of record as of October 14, 2021.

How often does Kadant Inc. (KAI) declare dividends?

Kadant Inc. declares dividends quarterly, subject to Board approval.

Are future dividends from Kadant Inc. (KAI) guaranteed?

Future dividends are not guaranteed and may vary based on market conditions.