WESTFORD, Mass.--(BUSINESS WIRE)--May 20, 2014--
Kadant Inc. (NYSE:KAI) announced that its Board of Directors has
approved a quarterly cash dividend to stockholders of $0.15 per share to
be paid on August 13, 2014 to stockholders of record as of the close of
business on July 16, 2014. 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 revenues of $344 million in 2013 and 1,800
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 quarterly report on Form 10-Q for the period
ended March 29, 2014. These include risks and uncertainties relating to
our dependence on process industries; significance of sales and
operation of manufacturing facilities in China; oriented strand board
market and levels of residential construction activity; commodity and
component price increases or shortages; dependence on certain suppliers;
international sales and operations; our acquisition strategy; our
internal growth strategy; fluctuations in currency exchange rates;
competition; soundness of suppliers and customers; our effective tax
rate; future restructurings; soundness of financial institutions; our
debt obligations; restrictions in our credit agreement; 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.
Source: Kadant Inc.
Kadant Inc.
Investor contact:
Thomas M. O’Brien, 978-776-2000
or
Media
contact:
Wes Martz, 269-278-1715
