Kadant (KAI) Declares $0.17 Quarterly Dividend; Approves $20M Share Buyback
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Kadant (NYSE: KAI) declared a quarterly dividend of $0.17 per share, or $0.68 annualized.
The dividend will be payable on August 13, 2015, to stockholders of record on July 16, 2015, with an ex-dividend date of July 14, 2015.
The annual yield on the dividend is 1.4 percent.
Kadant Inc. (NYSE: KAI) announced today that its board of directors has authorized the repurchase of up to an additional $20 million of its equity securities effective May 20, 2015 through May 20, 2016. Repurchases may be made in public or private transactions, including under Securities Exchange Act Rule 10b-5-1 trading plans. The timing and amount of any repurchases will be at the discretion of Company management and will be based on market conditions and other considerations, including limitations contained in our credit agreement entered into on August 3, 2012. Through May 20, 2015, under the existing $20 million authorization that will expire on July 28, 2015, the Company has repurchased 50,000 shares of its common stock for an aggregate purchase price of approximately $2.0 million, or $39.53 per share, leaving $18.0 million remaining on this authorization.
For a dividend history and other dividend-related data on Kadant (KAI) click here.
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