WESTFORD, Mass.--(BUSINESS WIRE)--May 20, 2015--
Kadant Inc. (NYSE:KAI) announced that its Board of Directors approved a
quarterly cash dividend to stockholders of $0.17 per share to be paid on
August 13, 2015 to stockholders of record as of the close of business on
July 16, 2015. 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 $402 million in fiscal year
2014 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 annual report on Form 10-K for the year ended
January 3, 2015 and subsequent filings. 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/20150520006659/en/
Source: Kadant Inc.
Kadant Inc.
Investor contact:
Thomas M. O’Brien, 978-776-2000
or
Media
contact:
Wes Martz, 269-278-1715
