Kadant Authorizes Share Repurchase

WESTFORD, Mass., May 18, 2023 (GLOBE NEWSWIRE) — 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 18, 2023 through May 18, 2024. 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 19, 2023.

About Kadant
Kadant 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 3,100 employees in 20 countries worldwide. For more information, visit www.kadant.com.