Anyone holding stock in the Westford-based Kadant corporation is in for some good news as the company announced recently that it will be paying a dividend in May.
Kadant stockholders of record as of April 16 will receive a dividend of $.17 a share, a decision that followed the company’s fourth quarter earnings report in March.
In that report, earnings per share (EPS) increased 58 percent from Q4 2013, rising to $0.82. Net income increased 11 percent to $105.2 million in Q4 and annual income increased 17 percent to $402.1 million.
In 2015, annual EPS is expected at $3.05 to $3.15 on projected revenue of $413 to $423 million.
As of the morning of April 9, Kadant stock (KAI: NASDAQ) was traiding at $55.58 per share, near its 52 week high of $55.79.
Located in Westford on Technology Park Drive, Kadant is one of the world’s leading suppliers of materials for the global pulp and paper industry. More information can be found on their website, http://www.kadant.com
