WESTFORD, Mass.--(BUSINESS WIRE)--May 17, 2017--
Kadant Inc. (NYSE: KAI) announced that its Board of Directors has
approved a quarterly cash dividend to stockholders of $0.21 per share to
be paid on August 10, 2017 to stockholders of record as of the close of
business on July 13, 2017. 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 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
December 31, 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 revenues 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; economic conditions and regulatory changes caused by the
United Kingdom’s likely exit from the European Union; 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/20170517006301/en/
Source: Kadant Inc.
Kadant Inc.
Investor Contact Information:
Michael McKenney,
978-776-2000
mike.mckenney@kadant.com
or
Media
Contact Information:
Wes Martz, 269-278-1715
wes.martz@kadant.com
