Kadant Inc. (NYSE:KAI) announced that its Board of Directors has
approved a quarterly cash dividend to stockholders of $0.125 per share
to be paid on November 7, 2013 to stockholders of record as of the close
of business on October 10, 2013. Future declarations of dividends are
subject to Board approval and may be adjusted as business needs or
market conditions change.
Kadant Inc. is a leading supplier to the global pulp and paper industry.
Our stock-preparation; fluid-handling; and doctoring, cleaning, and
filtration products are designed to increase efficiency and improve
quality in pulp and paper production. Many of our products, particularly
in our Fluid-Handling product line, are also used to optimize production
in other process industries. In addition, we produce granules from
papermaking byproducts for agricultural and lawn and garden
applications. 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 Kadant’s quarterly report on Form 10-Q for the period
ended June 29, 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; commodity and component
price increases or shortages; 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; 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.
Copyright Business Wire 2013