KadantNYSE: KAI

WESTFORD, Mass., June 03, 2024 (GLOBE NEWSWIRE) -- Kadant Inc. (NYSE: KAI) today announced it has completed the acquisition of Dynamic Sealing Technologies LLC and affiliates (“DSTI”) for approximately $55 million in cash, subject to certain customary adjustments.

Kadant (KAI) is giving back to its shareholders by implementing a $50 million share buyback program.

Kadant Inc. (NYSE: KAI) has announced that its Board of Directors has approved a plan to repurchase up to $50 million of its equity securities from May 16, 2024 to May 16, 2025. Repurchases may occur through public or private transactions, including under Securities Exchange Act Rule 10b-5-1 trading plans. The timing and amount of repurchases will be determined by Company management based on market conditions and other factors, including restrictions outlined in their credit agreement. As of the expiration date on May 18, 2024, the Company has not yet repurchased any shares under this authorization.

Kadant Inc. (NYSE: KAI) has declared a quarterly cash dividend of $0.32 per share to be paid on August 8, 2024 to stockholders of record as of July 11, 2024. Any future dividend declarations will be dependent on Board approval and may be modified based on business requirements or market conditions.

Kadant Inc. (NYSE: KAI) will report its first quarter results for 2024 after the market closes on April 30, 2024, followed by a webcast on May 1, 2024 at 11:00 a.m. eastern time to discuss financial performance and future expectations.

Kadant has experienced significant share price growth over the past year, five years, and a decade. That growth should continue after a lull in 2024, as it digests new acquisitions. KAI has a solid growth strategy, including acquisitions, international expansion, and a focus on parts and consumables sales.

Kadant Inc. (KAI) Q4 2023 Earnings Call Transcript

Kadant (KAI) came out with quarterly earnings of $2.41 per share, beating the Zacks Consensus Estimate of $2.10 per share. This compares to earnings of $2.33 per share a year ago.

WESTFORD, Mass., Feb. 09, 2024 (GLOBE NEWSWIRE) -- Kadant Inc. (NYSE: KAI) announced it will release its 2023 fourth quarter and full-year results after the market closes on Wednesday, February 14, 2024 and will hold a webcast the next day, Thursday, February 15, 2024 at 11:00 a.m. eastern time. During the call the Company will discuss its fourth quarter and full-year financial performance and future expectations.