Kadant Authorizes $20 Mln Share Buyback Program

Kadant (KAI), a provider of engineered systems, said after markets closed on Wednesday that it has authorized the repurchase of up to $20 million of its equity securities effective May 16, through May 16, 2019.

Repurchases may be made in public or private transactions.

The timing and amount of any repurchases will be at the discretion of company management and will be based on market conditions.

Through May 16, 2018, under the existing $20 million authorization that will expire on May 17, 2018, the company has not repurchased any shares of its common stock.

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