Kadant (KAI) will raise its quarterly dividend by 4.5 percent to $0.23 per share in the first quarter of 2019. This marks the 6th consecutive year of dividend increases by KAI and translates into a new dividend yield of 1.1%.

The increased dividend be paid on May 7, 2019 to stockholders of record as of the close of business on April 9, 2019. Last year Kadant hiked its dividend by 4.8 percent to 22 cents quarterly.

Kadant Inc. is a supplier of components and engineered systems used in process industries, including papermaking, paper recycling and oriented strand board, an engineered wood panel product used primarily in home construction. In addition, the Company manufactures granules made from papermaking byproducts.