Kadant was incorporated as a wholly owned subsidiary of Thermo Electron in November 1991, and at that time was named Thermo Fibertek Inc. A year later, we conducted an initial public offering of our common stock and became a majority-owned public subsidiary of Thermo. In 2000, Thermo decided to spin off our business as part of a major reorganization that would allow it to focus on its scientific instruments business. On July 12, 2001, we changed our name from Thermo Fibertek Inc. to Kadant Inc., and on August 8, 2001, we were spun off from Thermo as a fully independent public company.
Thermo Electron includes the tax basis information on its Web site at http://ir.thermofisher.com Click on the FAQs link found in the side navigation and then select the question, “How do I calculate the tax basis for shares I received in Kadant Inc.” The answer to the question includes guidance in the form of a letter to shareholders and a worksheet for calculating the tax basis of your Kadant shares received in the stock distribution. You will need to know the basis of your Thermo shares in order to calculate the tax basis of your Kadant shares received in the spinoff.
Kadant’s common stock is listed on the New York Stock Exchange and trades under the ticker symbol KAI.
Any questions related to the issuance of stock certificates, change of ownership, lost stock certificates, or change of address should be directed to the company’s transfer agent, American Stock Transfer & Trust Company, which maintains our shareholder activity records. For these and similar matters, please direct inquiries to:
American Stock Transfer & Trust Company
Shareholder Services Department
59 Maiden Lane
New York, New York 10038
Telephone: 800-937-5449 or 718-921-8200
Web site: www.amstock.com
Please refer to the following table for a history of Kadant’s (previously known as Thermo Fibertek) stock splits.
|Split||Form||Record date||Payment/Effective date|
|2-for-1||100% stock dividend||09/17/92||09/17/92|
|3-for-2||50% stock dividend||09/1/95||09/15/95|
|3-for-2||50% stock dividend||06/12/96||06/26/96|
|1-for-5||Reverse stock dividend||07/12/01||07/12/01|
Shareholders with stock certificates representing shares of Thermo Fibertek should contact our transfer agent, American Stock Transfer & Trust Company (see above), to exchange those certificates for Kadant Inc. split-adjusted stock certificates.
No, Kadant Inc. has neither a dividend reinvestment plan nor a direct stock purchase plan.
Yes, please refer to the Dividend/Split History page of our website for details. Future declarations of dividends are subject to board approval and may be adjusted as business needs or market conditions change.
Investors can contact Kadant’s chief financial officer, Michael McKenney, by sending an e-mail to firstname.lastname@example.org.
Shareholders and other interested parties who wish to contact our board of directors may do so by writing to:
Board of Directors
c/o Corporate Secretary
One Technology Park Drive
Westford, MA 01886