05:05 PM EDT, 05/16/2024 (MT Newswires) -- Kadant ( KAI ) said late Thursday its board has approved an up to $50 million share buyback program that will run until May 16, 2025.

The timing and amount of the buybacks will be based on market conditions and other considerations, including limitations that are included in a credit agreement, Kadant ( KAI ) said.

The company said it has not repurchased any shares under the $50 million authorization that will expire on May 18.

Separately, Kadant ( KAI ) said its board has kept the company's quarterly dividend at $0.32 per share, payable Aug. 8 to shareholders of record on July 11.

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