Kadant, Inc. (KAI) Initiates, Declares $0.125 Quarterly Dividend; 1.9% Yield
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Kadant, Inc. (NYSE: KAI) initiated and declared a quarterly dividend of $0.125 per share, or $0.5 annualized.
The dividend will be payable on May 9, 2013, to stockholders of record on April 11, 2013, with an ex-dividend date of April 9, 2013.
The annual yield on the dividend is 1.9 percent.
"Returning capital to shareholders has been a key element of our program to create shareholder value," said Jonathan W. Painter, president and chief executive officer of Kadant. "Over the last two years we have returned over $30 million of capital to our stockholders through stock buybacks, which equates to approximately 47% of our net income from continuing operations during that period. We expect to continue to repurchase our shares in the future when conditions are favorable. We will also continue to pursue acquisition opportunities as part of our growth strategy. In short, we believe we have sufficient cash flow and liquidity to be able to invest in our business, pursue complementary acquisitions, and return cash to shareholders through dividends and stock repurchases."
For a dividend history and other dividend-related data on Kadant, Inc. (KAI) click here.
The dividend will be payable on May 9, 2013, to stockholders of record on April 11, 2013, with an ex-dividend date of April 9, 2013.
The annual yield on the dividend is 1.9 percent.
"Returning capital to shareholders has been a key element of our program to create shareholder value," said Jonathan W. Painter, president and chief executive officer of Kadant. "Over the last two years we have returned over $30 million of capital to our stockholders through stock buybacks, which equates to approximately 47% of our net income from continuing operations during that period. We expect to continue to repurchase our shares in the future when conditions are favorable. We will also continue to pursue acquisition opportunities as part of our growth strategy. In short, we believe we have sufficient cash flow and liquidity to be able to invest in our business, pursue complementary acquisitions, and return cash to shareholders through dividends and stock repurchases."
For a dividend history and other dividend-related data on Kadant, Inc. (KAI) click here.
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