Kadant Declares Cash Dividend
WESTFORD, Mass.--(BUSINESS WIRE)-- Kadant Inc. (KAI) announced that its Board of Directors has approved a quarterly cash dividend to stockholders of $0.125 per share to be paid on February 6, 2014 to stockholders of record as of the close of business on January 9, 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 Companys 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 $332 million in 2012 and 1,600 employees in 17 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 Kadants quarterly report on Form 10-Q for the period ended September 28, 2013. These include risks and uncertainties relating to our dependence on the pulp and paper industry; 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.
Thomas M. OBrien, 978-776-2000
Wes Martz, 269-278-1715
Source: Kadant Inc.Copyright Business Wire 2013