Kadant Inc. (NYSE:KAI) Announces Dividend Increase – $0.34 Per Share

Kadant Inc. (NYSE:KAI) announced a quarterly dividend on Wednesday, March 5th, RTT News reports. Stockholders of record on Wednesday, April 9th will be paid a dividend of 0.34 per share by the industrial products company on Wednesday, May 7th. This represents a $1.36 annualized dividend and a dividend yield of 0.37%. This is a 6.3% increase from Kadant’s previous quarterly dividend of $0.32.

Kadant has raised its dividend payment by an average of 8.6% per year over the last three years and has raised its dividend annually for the last 11 consecutive years. Kadant has a payout ratio of 11.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Kadant to earn $11.39 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 11.2%.

Kadant Stock Performance

NYSE:KAI opened at $370.13 on Thursday. The firm has a market capitalization of $4.35 billion, a PE ratio of 39.04 and a beta of 1.25. The business’s fifty day moving average price is $366.89 and its 200 day moving average price is $355.50. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.29 and a quick ratio of 1.46. Kadant has a 12 month low of $249.51 and a 12 month high of $429.95.

Kadant (NYSE:KAI) last posted its earnings results on Wednesday, February 12th. The industrial products company reported $2.25 EPS for the quarter, beating the consensus estimate of $2.08 by $0.17. Kadant had a return on equity of 14.66% and a net margin of 10.59%. On average, sell-side analysts anticipate that Kadant will post 9.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Barrington Research reaffirmed an “outperform” rating and set a $410.00 price objective on shares of Kadant in a report on Friday, February 14th.

About Kadant

Kadant Inc supplies technologies and engineered systems worldwide. It operates in three segments: Flow Control, Industrial Processing, and Material Handling. The Flow Control segment develops, manufactures, and markets fluid-handling systems and equipment, such as rotary joints, syphons, turbulator bars, expansion joints, and engineered steam and condensate systems; and doctoring, cleaning, and filtration systems and related consumables consisting of doctor systems and holders, doctor blades, cleaning shower and fabric-conditioning systems, forming systems and wear surfaces, and water-filtration systems.