KAI » Topics » Item 4. Submission of Matters to a Vote of Security Holders

These excerpts taken from the KAI 10-K filed Mar 11, 2008.

Item 4.    Submission of Matters to a Vote of Security Holders

Not applicable.

 

15


Table of Contents

Kadant Inc.

2007 Annual Report

 

PART II

 

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities

Market Price of Common Stock

Our common stock trades on the New York Stock Exchange under the symbol KAI.

The following table sets forth the high and low sales prices of our common stock for 2007 and 2006, as reported in the consolidated transaction reporting system.

 

     2007    2006
Quarter    High    Low    High    Low

First

   $ 27.79    $ 22.11    $ 23.32    $ 17.95

Second

     31.70      24.47      27.10      20.70

Third

     31.58      25.06      26.55      19.50

Fourth

     33.76      26.85      27.98      22.79

Holders of Common Stock

As of February 29, 2008, we had approximately 4,993 holders of record of our common stock. This does not include holdings in street or nominee name. The closing market price on the New York Stock Exchange for our common stock on February 29, 2008, was $25.10 per share.

Dividend Policy

We have never declared or paid cash dividends and we do not at this time expect to pay cash dividends in the foreseeable future because our policy has been to use earnings to finance expansion and growth, as well as repurchase our stock. Payment of dividends will rest within the discretion of the board of directors and will depend upon, among other factors, our earnings, capital requirements, and financial condition. Our ability to pay dividends is restricted by the terms of our 2008 Credit Agreement.

Issuer Purchases of Equity Securities

The following table provides information about purchases by us of our common stock during the fourth quarter of 2007:

Issuer Purchases of Equity Securities

 

Period    Total Number
of Shares
Purchased (1)
   Average Price Paid
per Share
   Total Number of
Shares Purchased as
Part of Publicly
Announced Plans (1)
   Approximate Dollar Value
of Shares that May Yet
Be Purchased Under the
Plans

9/30/07 – 10/31/07

           –                       –            $ 20,000,000

11/1/07 – 11/30/07

            $ 20,000,000

12/1/07 – 12/29/07

            $ 20,000,000
               

Total

           

 

(1) On May 2, 2007, our board of directors approved the repurchase by us of up to $20 million of our equity securities during the period from May 2, 2007 through May 2, 2008. Repurchases may be made in public or private transactions, including under Securities Exchange Act Rule 10b-5-1 trading plans. As of December 29, 2007, no purchases had been made under this authorization.

 

16


Table of Contents

Kadant Inc.

2007 Annual Report

 


Item 4.    Submission of Matters to a Vote of Security Holders

Not applicable.

 


15







Table of Contents







Kadant Inc.

2007 Annual Report

 



PART II

 






Item 5.
Market for Registrant’s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities
STYLE="margin-top:6px;margin-bottom:0px">Market Price of Common Stock

Our common stock trades
on the New York Stock Exchange under the symbol KAI.

The following table sets forth the high and low sales prices of our common stock for
2007 and 2006, as reported in the consolidated transaction reporting system.

 


























































































   2007  2006
Quarter  High  Low  High  Low

First

  $27.79  $22.11  $23.32  $17.95

Second

   31.70   24.47   27.10   20.70

Third

   31.58   25.06   26.55   19.50

Fourth

   33.76   26.85   27.98   22.79

Holders of Common Stock

FACE="Times New Roman" SIZE="2">As of February 29, 2008, we had approximately 4,993 holders of record of our common stock. This does not include holdings in street or nominee name. The closing market price on the New York Stock Exchange for our
common stock on February 29, 2008, was $25.10 per share.

Dividend Policy

STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%">We have never declared or paid cash dividends and we do not at this time expect to pay cash dividends in the foreseeable future because our policy has
been to use earnings to finance expansion and growth, as well as repurchase our stock. Payment of dividends will rest within the discretion of the board of directors and will depend upon, among other factors, our earnings, capital requirements, and
financial condition. Our ability to pay dividends is restricted by the terms of our 2008 Credit Agreement.

Issuer Purchases of Equity Securities

The following table provides information about purchases by us of our common stock during the fourth quarter of 2007:

STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center">Issuer Purchases of Equity Securities

 

















































































Period  Total Number
of Shares
Purchased (1)
  Average Price Paid
per Share
  Total Number of
Shares Purchased as
Part of Publicly
Announced Plans (1)
  Approximate Dollar Value
of Shares that May Yet
Be Purchased Under the
Plans

9/30/07 – 10/31/07

          –                    –          $20,000,000

11/1/07 – 11/30/07

        $20,000,000

12/1/07 – 12/29/07

        $20,000,000
          

Total

        

 





(1)On May 2, 2007, our board of directors approved the repurchase by us of up to $20 million of our equity securities during the period from May 2, 2007 through May 2,
2008. Repurchases may be made in public or private transactions, including under Securities Exchange Act Rule 10b-5-1 trading plans. As of December 29, 2007, no purchases had been made under this authorization.
STYLE="margin-top:0px;margin-bottom:0px"> 


16







Table of Contents







Kadant Inc.

2007 Annual Report

 


This excerpt taken from the KAI 10-K filed Mar 13, 2007.

Item 4.    Submission of Matters to a Vote of Security Holders

Not applicable.

 

14


Table of Contents

Kadant Inc.

2006 Annual Report

 

PART II

 

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities

Market Price of Common Stock

Our common stock trades on the New York Stock Exchange under the symbol KAI.

The following table sets forth the high and low sales prices of our common stock for 2006 and 2005, as reported in the consolidated transaction reporting system.

 

     2006    2005

Quarter

   High    Low    High    Low

First

   $ 23.32    $ 17.95    $ 21.22    $ 18.15

Second

     27.10      20.70      22.65      17.02

Third

     26.55      19.50      23.18      18.27

Fourth

     27.98      22.79      20.54      16.50

Holders of Common Stock

As of February 28, 2007, we had approximately 5,421 holders of record of our common stock. This does not include holdings in street or nominee name. The closing market price on the New York Stock Exchange for our common stock on February 28, 2007, was $23.42 per share.

Dividend Policy

We have never declared or paid cash dividends and we do not at this time expect to pay cash dividends in the foreseeable future because our policy has been to use earnings to finance expansion and growth, as well as repurchase our stock. Payment of dividends will rest within the discretion of the board of directors and will depend upon, among other factors, our earnings, capital requirements, and financial condition. Our ability to pay dividends is restricted by the terms of our Credit Agreement.

Issuer Purchases of Equity Securities

The following table provides information about purchases by us of our common stock during the fourth quarter of 2006:

Issuer Purchases of Equity Securities

 

Period

   Total Number
of Shares
Purchased (1)
   Average Price Paid
per Share
   Total Number of
Shares Purchased as
Part of Publicly
Announced Plans (1)
   Approximate Dollar Value
of Shares that May Yet
Be Purchased
Under the Plans

10/1/06 – 10/31/06

              $ 11,885,514

11/1/06 – 11/30/06

   20,300    $ 23.59    20,300    $ 11,406,581

12/1/06 – 12/30/06

   147,200    $ 24.37    147,200    $ 7,818,695
               

Total

   167,500    $ 24.28    167,500   

 

(1) On May 3, 2006, our board of directors authorized the repurchase of up to $15 million of our equity securities during the period from May 18, 2006 through May 18, 2007. Repurchases may be made in public or private transactions, including under Securities Exchange Act Rule 10b-5-1 trading plans. As of December 30, 2006, we had repurchased 135,300 shares of our common stock for $3.1 million in the third quarter of 2006, and 167,500 shares of our common stock for $4.1 million in the fourth quarter of 2006 under this authorization.

 

15


Table of Contents

Kadant Inc.

2006 Annual Report

 

This excerpt taken from the KAI 10-K filed Mar 16, 2006.

Item 4.    Submission of Matters to a Vote of Security Holders

Not applicable.

 

15


Table of Contents

Kadant Inc.

2005 Annual Report

 

PART II

This excerpt taken from the KAI 10-K filed Mar 16, 2005.

Item 4.    Submission of Matters to a Vote of Security Holders

 

Not applicable.

 

7


Table of Contents
Kadant Inc.   2004 Annual Report

 

 

PART II

 

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