Kadant (KAI) will raise its quarterly dividend by 4.3 percent to $0.24 per share in the first quarter of 2020. This marks the 7th consecutive year of dividend increases by KAI.

The increased dividend will be paid on May 5, 2020 to stockholders of record as of the close of business on April 7, 2020. A new annual dividend rate of $0.96 per share yields 1.1% at a stock price of $90.90.

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.