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Article: Kadant Authorizes Share Repurchase.
- Article from:
- Business Wire
- Article date:
- November 4, 2009
CopyrightCOPYRIGHT 2009 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WESTFORD, Mass. -- Kadant Inc. (NYSE:KAI) announced today that its board of directors has authorized the repurchase of up to $20 million of its equity securities effective November 4, 2009 through November 4, 2010. Repurchases may be made in public or private transactions, including under Securities Exchange Act Rule 10b-5-1 trading plans. The timing and amount of any repurchases will be at the discretion of company management and will be based on market conditions and other corporate considerations, including limitations contained in our credit agreement entered into on February 13, 2008. The Company's previous share repurchase authorization expired in October 2009.
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