Kadant announces $50M share repurchase program

Kadant (KAI) announced that its board of directors has authorized the repurchase of up to $50M of its equity securities effective May 15 through May 15, 2026. 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 $50M authorization that will expire on May 16.