Kadant Declares Cash Dividend

Rhea-AI Summary

Kadant Inc. (NYSE: KAI) has announced a quarterly cash dividend of $0.26 per share, payable on February 2, 2023 to stockholders of record as of January 5, 2023. The Board of Directors will determine future dividends based on business conditions and needs. Kadant is a global provider of technologies aimed at enhancing efficiency in industrial processing, employing approximately 3,000 people across 20 countries.

Positive

• Quarterly cash dividend of $0.26 per share enhances shareholder income.
• Demonstrates company confidence in sustainable financial performance.

Negative

• Future dividend payments are subject to Board approval and market conditions.

WESTFORD, Mass., Nov. 17, 2022 (GLOBE NEWSWIRE) -- Kadant Inc. (NYSE: KAI) announced today that its Board of Directors has approved a quarterly cash dividend to stockholders of $0.26 per share to be paid on February 2, 2023 to stockholders of record as of the close of business on January 5, 2023. 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 3,000 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 1, 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; 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; 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)?

Kadant Inc. has declared a dividend of $0.26 per share.

When will the dividend for KAI be paid?

The dividend will be paid on February 2, 2023.

What is the record date for Kadant Inc.'s dividend?

The record date for the dividend is January 5, 2023.

How often does Kadant Inc. pay dividends?

Kadant Inc. typically pays dividends quarterly, subject to Board approval.

What factors can affect Kadant Inc.'s future dividends?

Future dividends may be adjusted based on business needs or market conditions.