WESTFORD, Mass.--(BUSINESS WIRE)--May 18, 2016--
Kadant Inc. (NYSE:KAI) announced that its board of directors has
approved a quarterly cash dividend to stockholders of $0.19 per share to
be paid on August 11, 2016 to stockholders of record as of the close of
business on July 14, 2016. 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. 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 revenue of $390 million in fiscal year
2015 and 2,000 employees in 18 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. Our actual results may
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
January 2, 2016 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 revenue from large capital equipment
and systems projects; the variability and uncertainties in sales of
capital equipment in China; currency fluctuations; our customers’
ability to obtain financing for capital equipment projects; changes in
government regulations and policies; the oriented strand board market
and levels of residential construction activity; development and use of
digital media; price increases or shortages of raw materials; dependence
on certain suppliers; international sales and operations; disruption in
production; our acquisition strategy; our internal growth strategy;
competition; soundness of suppliers and customers; our effective tax
rate; future restructurings; soundness of financial institutions; our
debt obligations; restrictions in our credit agreement; loss of key
personnel; reliance on third-party research; protection of patents and
proprietary rights; failure of our information systems or breaches of
data security; fluctuations in our share price; and anti-takeover
provisions. We undertake no obligation to publicly update any
forward-looking statement, whether as a result of new information,
future events, or otherwise.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160518006532/en/
Source: Kadant Inc.
Kadant Inc.
Investor contact:
Michael McKenney, 978-776-2000
or
Media
contact:
Wes Martz, 269-278-1715
