Kadant Authorizes Share Repurchase
2024年5月17日 - 5:16AM
Kadant Inc. (NYSE: KAI) announced today that its Board of Directors
has authorized the repurchase of up to $50 million of its equity
securities effective May 16, 2024 through May 16, 2025. 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 March 1, 2017, as amended and restated.
The Company has not repurchased any shares of its common stock
under the $50 million authorization that will expire on May 18,
2024.
About KadantKadant Inc. is a
global supplier of technologies and engineered systems that drive
Sustainable Industrial Processing. The Company’s products and
services play an integral role in enhancing efficiency, optimizing
energy utilization, and maximizing productivity in process
industries. Kadant is based in Westford, Massachusetts, with
approximately 3,400 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 regarding our
business, financial performance and any plans to repurchase our
equity securities. 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 fiscal year ended December 30, 2023 and subsequent
filings with the Securities and Exchange Commission. These include
risks and uncertainties relating to adverse changes in global and
local economic conditions; the variability and difficulty in
accurately predicting revenues from large capital equipment and
systems projects; our acquisition strategy; 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; development and use of digital
media; cyclical economic conditions affecting the global mining
industry; demand for coal, including economic and environmental
risks associated with coal; failure of our information systems or
breaches of data security and cybertheft; implementation of our
internal growth strategy; supply chain constraints, inflationary
pressure, price increases and shortages in raw materials;
competition; changes to tax laws and regulations; our ability to
successfully manage our manufacturing operations; disruption in
production; future restructurings; loss of key personnel and
effective succession planning; protection of intellectual property;
climate change; adequacy of our insurance coverage; global
operations; policies of the Chinese government; the variability and
uncertainties in sales of capital equipment in China; currency
fluctuations; changes to government regulations and policies around
the world; compliance with government regulations and policies and
compliance with laws; environmental laws and regulations;
environmental, health and safety laws and regulations impacting the
mining industry; our debt obligations; restrictions in our credit
agreement and note purchase agreement; soundness of financial
institutions; fluctuations in our share price; and anti-takeover
provisions.
ContactsInvestor Contact
Information:Michael McKenney, 978-776-2000IR@kadant.comorMedia
Contact Information:Wes Martz, 269-278-1715media@kadant.com
Kadant (NYSE:KAI)
過去 株価チャート
から 5 2024 まで 6 2024
Kadant (NYSE:KAI)
過去 株価チャート
から 6 2023 まで 6 2024