Kadant Declares Cash Dividend
September 11 2019 - 4:56PM
Kadant Inc. (NYSE: KAI) announced today that its Board of Directors
has approved a quarterly cash dividend to stockholders of $0.23 per
share to be paid on November 7, 2019 to stockholders of record as
of the close of business on October 10, 2019. Future declarations
of dividends are subject to Board approval and may be adjusted as
business needs or market conditions change.
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 2,800 employees in 20 countries worldwide. For more
information, visit www.kadant.com.
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 year ended December 29, 2018 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 customers’ ability to obtain financing for capital
equipment projects; international sales and operations; the
variability and uncertainties in sales of capital equipment in
China; the oriented strand board market and levels of residential
construction activity; development and use of digital media;
currency fluctuations; cyclical economic conditions affecting the
global mining industry and the continued demand for coal; price
increases or shortages of raw materials; dependence on certain
suppliers; our acquisition strategy; failure of our information
systems or breaches of data security and cybertheft; changes in
government regulations and policies and compliance with laws; our
internal growth strategy; competition; soundness of suppliers and
customers; changes in our tax provision or exposure to additional
tax liabilities; our ability to successfully manage our
manufacturing operations; disruption in production; future
restructurings; economic conditions and regulatory changes caused
by the United Kingdom’s exit from the European Union; our debt
obligations; restrictions in our credit agreement and note purchase
agreement; loss of key personnel and effective succession planning;
protection of intellectual property; fluctuations in our share
price; soundness of financial institutions; environmental laws and
regulations; climate change; environmental, health and safety laws
and regulations; adequacy of our insurance coverage; anti-takeover
provisions; and reliance on third-party research.
ContactsInvestor Contact Information:Michael
McKenney, 978-776-2000mike.mckenney@kadant.comorMedia Contact
Information:Wes Martz, 269-278-1715wes.martz@kadant.com
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