Kadant Declares Cash Dividend
September 17 2020 - 4:32PM
Kadant Inc. (NYSE: KAI) announced today that its Board of Directors
has approved a quarterly cash dividend to stockholders of $0.24 per
share to be paid on November 12, 2020 to stockholders of record as
of the close of business on October 15, 2020. Future declarations
of dividends are subject to Board approval and may be adjusted as
business needs or market conditions change.
About KadantKadant Inc. is a global supplier of
high-value, critical components and engineered systems used in
process industries worldwide. Our 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 approximately 2,700 employees in 20 countries
worldwide. For more information, visit www.kadant.com.
Safe Harbor StatementThe 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. These forward-looking
statements represent our expectations as of the date of this press
release. We undertake no obligation to publicly update any
forward-looking statement, whether as a result of new information,
future events, or otherwise. These forward-looking statements are
subject to known and unknown risks and uncertainties that may cause
our actual results to 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 28, 2019 and
subsequent filings with the Securities and Exchange Commission.
These include risks and uncertainties relating to the impact of the
COVID-19 pandemic on our operating and financial results; adverse
changes in global and local economic conditions; the variability
and difficulty in accurately predicting revenues from large capital
equipment and systems projects; our customers’ ability to obtain
financing for capital equipment projects; international sales and
operations; health epidemics; changes to government regulations and
policies around the world; policies of the Chinese government; the
variability and uncertainties in sales of capital equipment in
China; levels of residential construction activity; reductions by
our wood processing customers of their capital spending or
production of oriented strand board; changes to the global timber
supply; cyclical economic conditions affecting the global mining
industry; development and use of digital media; currency
fluctuations; demand for coal, including economic and environmental
risks associated with coal; price increases or shortages of raw
materials; dependence on certain suppliers; our acquisition
strategy; failure of our information systems or breaches of data
security and cybertheft; compliance with government regulations and
policies and compliance with laws; implementation of our internal
growth strategy; competition; soundness of suppliers and customers;
changes in our tax provision or exposure to additional tax
liabilities; our ability to successfully manage our manufacturing
operations; disruption in production; future restructurings;
economic conditions and regulatory changes caused by the United
Kingdom’s exit from the European Union; our debt obligations;
restrictions in our credit agreement and note purchase agreement;
substitution of an alternative index for LIBOR; loss of key
personnel and effective succession planning; protection of
intellectual property; fluctuations in our share price; soundness
of financial institutions; environmental laws and regulations;
climate change; environmental, health and safety laws and
regulations; adequacy of our insurance coverage; anti-takeover
provisions; and reliance on third-party research.
ContactsInvestor Contact Information:Michael
McKenney, 978-776-2000IR@kadant.com orMedia Contact
Information:Wes Martz, 269-278-1715media@kadant.com
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